Iron Pillar gives progress capital to assist Indian startups broaden their international footprint.
Based on Deal Road Asia, citing sources, the VC agency is in superior talks with restricted companions (LPs) to boost about $400 million in its second fund.
The VC agency has startups like FreshToHome, Uniphore, Curefoods and others in its portfolio.
Based on a current report by Iron Pillar, India is more likely to have greater than 250 unicorns by 2025.
Iron Pillar closed its first, $90 million fund in 2018 and raised $45 million afterwards for a top-up fund.
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Final yr, it raised $10 million for its second fund from Allana Group.
Final month, Sequoia India and Southeast Asia
raised $2.85 billion across a set of funds, together with a $2 billion early-stage, enterprise and progress fund for India and an $850 million Southeast Asian fund, to assist founders construct corporations from thought to IPO and past.
India has emerged because the third-largest startup ecosystem on the earth, after the US and China. The nation at present has greater than 100 unicorns.
In 2021, Indian startups raised $42 billion throughout 1,583 offers, leading to 42 unicorns.