New funds ride fourth wave of venture capital

Maiden funds, like Blume Ventures' $22 million fund, are invariably backed by local investors

In what appears to be the beginning of a fresh wave of venture capital (VC) in India, several new funds have done their maiden money raising. These include Stellaris Ventures, Pravega Ventures, Endiya Partners, and Fireside Ventures, which have announced closure of their maiden funds in the past few months.
 
Stellaris is an early-stage fund founded by Ritesh Banglani, Rahul Chowdhri and Alok Goyal, who were with Helion Ventures. Pravega has been founded by Mukul Singhal, who was with SAIF Partners. Endiya has been co-founded by industry veteran Sateesh Andra, who started Ventureeast, while Fireside has been started by