Kae Capital makes final close of new fund at $50 million

Sasha Mirchandani, Partner, Kae Capital

Kae Capital, an early-stage investment fund in India, on September 14 said it has closed its Winners Fund II, raising $50 million, adding to the growing pool of undeployed VC funds.

In a statement, the venture fund said it plans to make follow-on investments exclusively into portfolio companies, as co-investors with growth-stage funds in Series B, C and D rounds. In addition to its own portfolio, the fund also plans to invest in other late-stage companies.

Founded in 2012 by Sasha Mirchandani, Kae has till now been a sector-agnostic fund that invests in pre-seed to pre-series A, with an initial cheque size range between $1-3 million. The venture fund’s 81 portfolio companies with B2B and B2C models, together are valued at about $8.76 billion, it said. Kae, to date, has made 14 exits.

“...We’ve seen the ecosystem grow and see enough merit in being involved for as long as possible in a company’s lifecycle. We have launched this fund in order to continue backing our best founders, alongside other successful founders in the ecosystem, who are not yet a part of the Kae family,” Mirchandani, who is also the managing director at Kae Capital.

The company added that it is targeting to invest in 20 companies with the new fund. Kae added that it has already invested in HealthKart, Wysa, Brightchamps and Disprz, from this fund.

With offices in Mumbai and Bengaluru, Kae Capital is an early-stage investor in many leading companies such as  Tata 1MG, HealthKart, Nazara, Porter, and Zetwerk among others.

According to Kae, Velo Partners, Henry Kravis, co-founder and co-executive chairman, KKR, 360 ONE, Tata 1MG’s co-founder Prashant Tandon and Tanmay Saksena, and Healthkart’s Sameer Maheshwari, are among investors of the new fund, which was oversubscribed.