Stellaris Venture Partners, a new early-stage technology VC firm launched by former partners at Helion VC, has made the first close of its US$100 million fund.
The Series A-oriented fund, which aims to make 18 to 20 investments, aims to make the final close by the end of this year, according to a statement.
Stellaris was launched by Ritesh Banglani, Alok Goyal and, Rahul Chowdhri — all former Partners at Bangalore-based VC fund Helion Venture Partners.
It mainly looks to invest in startups solving India-specific problems, as well as global software products from India. The fund’s key investment areas are local language online services, technology-led financial inclusion, supply chain networks, vertical machine learning applications, and global SaaS businesses.
Stellaris has made two investments so far: B2B e-commerce marketplace Wydr and an undisclosed startup.
The company’s Limited Partners are financial institutions, corporates, entrepreneurs and family offices in the US, Europe and Asia.
Stellaris has offices in Bangalore and Delhi NCR.
Said Banglani: “We have assembled a strong syndicate of Limited Partners for our first fund. Indian tech companies are set to create US$500 billion of value over the next decade, and our fund gives its investors the opportunity to participate in this value creation.”
Stellaris has also created a network of more than 50 successful entrepreneurs and business professionals in India and abroad, who work closely with the partnership to help identify promising investments, advise the portfolio and selectively co-invest with the fund. The names include TaxiForSure Co-founders Aprameya R and Raghunandan G, Indify founder Alok Mittal, Capillary Technologies Founder Aneesh Reddy; as well as investors and business leaders like Kanwaljit Singh, Founder of Helion and Fireside Ventures, and Neeraj Agarwal, India Head of the Boston Consulting Group.