13 September 2017, India:
Mumbai-based early stage investor Kae Capital has closed its second fund with a corpus of $53 million from Quilvest, Velos Partners and Axis Capital, founders like MakeMyTrip’s Deep Kalra, BookMyShow’s Ashish Hemrajani, Quikr’s Pranay Chulet, Hero’s Sunil Munjal, Genesis Colors’ Sanjay Kapoor and Infosys co-founder Kris Gopalakrishnan are among the investors in the fund as per the report by ET.
Founded in 2010, Kae Capital invests in early stage companies which bring about innovative solutions for the existing gaps in the markets, all backed by a great team capable to execute and build a large business. The fund is sector agnostic and is open to invest in any sector which fits the criteria of being capital light and scalability. The fund has been backed by some of the leading Fund of Funds, Venture Capitalists and reputed HNIs.
“There is a huge untapped potential in the consumer space which is now playing out. There is far less competition, lots of good entrepreneurs are coming out in this space and you can build a profitable business with requiring the kind of capital consumer internet businesses do,“ said founder and managing director Sasha Mirchandani, adding that 20% of the fund will be invested in such transactions while the remaining will be equally split between consumer internet and software enterprise companies.
“We are looking at three types of companies — B2C technology, B2B tech, either within India or globally, and the last bucket is B2C non-tech,” explained Mirchandani.
Kae Capital had 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; global fund-of-funds Axiom, Squadron Capital and Morgan Creek Capital Management; and a few HNIs such as Manish Kejriwal, managing partner of Kedaara Capital, and Kalra of MakeMyTrip.