Early stage venture capital fund SRI Capital has launched a $100 million technology focused fund for the American and Indian markets. This is good news for Indian start-ups which target the enterprise customer in the US.
SRI will invest $1 million to $3 million in the portfolio companies. It aims to invest in six to eight startups in a year. In all SRI will invest in 25 US or India-based startups at the pre-Series A stage over the next three to four years. SRI Capital has backed startups including Yupp TV, budget hotels aggregator FabHotels and Healthify me among others.
The fund is managed by investor Sashi Reddi and operating partner Doc Pargh, who is based out of Philadelphia. The fund has secured $20 million from the family office of Reddi and will raise capital primarily from investors in the US and Europe.
Currently, Indian startups which target US enterprise customers have little support from investors. In the last five years, SRI Capital has invested in 15 startups.