Early stage venture capital firm Venture Highway on Thursday said it has raised $78.6 million for its second fund focused on technology seed investments in India. The fresh raise will be used for new investments in 30 early stage companies over the life of this fund.
Backed by iconic investors from Silicon Valley, the average cheque size for this fund is expected to be $1 million.
“We are extremely passionate about helping advise technology entrepreneurs build their businesses with our local and global networks,” said Samir Sood, Founder, Venture Highway.
Sood, who is a former top Google executive, founded the the Delhi-headquartered fund with Neeraj Arora, former Global Business Head at WhatsApp, in 2015.
With portfolio companies such as Meesho, Sharechat, Moglix, and Cars24, the early-stage investment firm has so far invested in 20 start-ups.
“Our goal is to give back to our country’s early-stage ecosystem and we continue to be extremely excited about the quality of the current generation of entrepreneurs building large businesses out of India,” said Sood.