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Seed-stage investor SRI Capital has marked the first close of its debut venture capital fund at $40 million (Rs 2.74 billion) to invest in early-stage technology start-ups in India and the US, the firm’s founder and managing partner Sashi Reddi told VC Circle.
SRI Capital is raising its maiden $100 million early-stage VC fund focused on tech opportunities in the US and in India. Anchored by a $20 million commitment from the family office of Sashi Reddi, the fund is raising capital primarily from investors in the US and Europe.
"There is a funding gap for Indian start-ups targeting US enterprise customers.
