BoldCap announces $25 million early stage fund

One of the first Indian VC firms dedicated to backing global B2B SaaS startups being built from India.

To deploy the fresh capital in 15-20 early-stage startups over the next 24-36 months

Chennai, April 12th, 2023 – Chennai based BoldCap today announced the launch of its second fund, with fresh capital of $25 million ready to be invested in 15-20 early-stage startups over the next 24-36 months. The firm also showcased its enviable Fund 1 portfolio, which includes startups like Spendflo, TestSigma, Spotdraft, and Locofy. This investment has come in from global institutions and family offices.

BoldCap is one of the first Indian VC firms dedicated to global B2B SaaS startups from India. What makes BoldCap different is that they are hands-on with the startup’s global GTM strategy, and they exclusively invest in only pre-seed and seed rounds.

“Global B2B software companies are being built out of India right now, and a lot of them are founded by product or engineering teams. This is why a GTM focused early-stage fund, with collective knowledge and industry connections to help them scale quickly will sit perfectly within the existing VC ecosystem in India,” says Sathya Nellore, Founder and General Partner – BoldCap. Sathya previously co-founded a tech company that was backed by MongoDB (NSDQ: MDB).

“SaaS companies from India could collectively reach $50 – $70 Billion in global revenues by 2030, which will be 5-7% of the global market share. We believe Indian entrepreneurs are thinking bolder and global and we are going to see a lot more SaaS companies for the world being built from India,” he adds.

According to Tracxn and SaaSBoomi, Indian SaaS companies have received over $4B in VC funding over the last 5 years. BoldCap has put together a remarkable set of advisors and operators who will help portfolio founders achieve PMF, drive global sales and build early marketing muscle. The closed group of advisors come from different global companies like Slack, Twilio, Hubspot, AWS, Salesforce, Hudson Insurance, Zuora, Palo Alto Networks, ongoDB.

BoldCap’s Fund I had invested in 10 companies, out of which 4 of them have crossed $1 million ARR in less than 15 months. The portfolio companies have collectively raised over $70M+ in follow-on funding over the last 12 months, putting the fund in the top quartile in terms of performance.

“Bold Cap believes in the idea and philosophy of the bold entrepreneur, the kind of founder who wants to build a generational company or a category creating company, who isn’t afraid to take risks or take on an extremely challenging market,” added Sathya.

What also sets BoldCap apart is the fund’s ability to bring in follow-on investments from top tier venture capital firms such as Sequoia, Accel, Golden gate ventures, Alpha Wave, Mass Mutual Ventures, Premji, Prosus, Together, January Capital.