You are here: Home » Companies » Start-ups » News
Business Standard

Silicon Valley-based VC Rocketship raises $100 mn for its second fund

The launch of Fund II will enable the VC to continue investing globally across sectors and company stages and increase the firm's number of follow-on investments, said the Silicon Valley-based VC

Topics
Silicon Valley | venture capital

Samreen Ahmad  |  Bengaluru 

Global lenders have been selective in taking exposure to Indian NBFCs. Strong parentage adds to the appeal, but is not a passport to syndication success
Rocketship uses machine learning and data science to identify and invest in startups around the world

firm Rocketship.vc has raised $100 million for its second fund. Founded by data scientists and entrepreneurs from like Amazon and Walmartlabs, the fund has so far invested in 44 start-ups including NoBroker, Moglix and Yulu.

The launch of Fund II will enable the VC to continue investing globally across sectors and company stages and increase the firm’s number of follow-on investments, said the Silicon Valley-based VC.

Rocketship uses machine learning and data science to identify and invest in startups around the world. The firm’s algorithm tracks globally using a series of metrics to indicate the probability that a startup will be successful.

“Recently, our algorithms identified in fintech, education as well as Cloud-based B2B,” said Sailesh Ramakrishnan, partner at Rocketship. Hence, the company is looking at investing in these segments from Fund II. It is planning to invest between $1 million and $5 million with a median check size of $3 million in 10-12 investments in the next one year from the new fund.

“Our deep data expertise allows us to take a different approach, leveraging data science, technology and analytics to find the best companies anywhere, at any stage, in any market. We’re excited to be at the forefront of this shift and use our experience to help founders successfully build their companies, regardless of location,” said Ramakrishnan.

The firm closed its first fund in late 2015 at $40 million. It is backed by investors such as Vulcan Capital and Adams Street Partners, as well as the family office of Marc Andreesen and Chris Dixon from A16z.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, August 11 2020. 22:39 IST
RECOMMENDED FOR YOU