Early stage investor Kae Capital has raised $30 million from existing investors and new investors as part of its second fund, reports Mint. The company will be further raising $10 million soon, founder and managing director Sasha Mirchandani told the publication.
Kae Capital’s second fund has already invested in five startups and the firm will be allocating 10% of the fund for non-tech companies in fast moving consumer goods and manufacturing startups. The report added that Kae will invest the proceeds of the second fund in the next three-five years and plans to double the size of its investments.
So far, it had been investing a ticket size of $500,000 in early-stage start-ups, which will now be increased to $1 million. The follow-on ticket size also will be increased from $2.5 million to $4 million going forward.
Kae Capital raised its maiden $25 million fund in March 2012. Investors in the first fund included venture capital firms Sequoia Capital, SAIF Partners and Omidyar Network; three global fund-of-funds—Axiom, Squadron Capital and Morgan Creek Capital Management.
Kae Capital’s investments over the last year
– Earlier this month, Kae Capital participated in a $5 million Series A funding for Truebil, an online market place for used cars.
– In May 2015, Saas-based customer communications platform Nudgespot raised $650,000 seed funding from Kae Capital, with participation from individual angel investors Anoop Goyal, Mike Shah and VA Sastry.
– In April 2015, online pharmacy 1mg raised funding worth $6 million from Deep Kalra, founder of MakeMyTrip, Sequoia Capital, Omidyar Network, Intel Capital and Kae Capital.
– Dating app TrulyMadly raised Rs 35 crore from Helion Venture Partners and Kae Capital in March 2015.