JSW Ventures, the startup investment arm of steel and energy conglomerate JSW Group, has marked the first close of ₹150 crore of its new fund, for which it is looking to raise a total corpus of ₹350 crore, a senior executive said. JSW Ventures received approval for the second fund from market regulator, Securities and Exchange Board of India (Sebi) in August. While its ₹100 crore first fund in 2016 was entirely backed by the Jindal family, the latest fund is anchored by the Jindals with a 30% commitment of the fund. “India’s large small and medium enterprises (SME)/ mid-market base helps SaaS companies achieve product-market fit before they go global. JSW Ventures also appointed a new partner in October last year, when Sachin Tagra joined them from media house Network18 Group, where he headed investments at Capital18, its startup investment arm.

Source: Mint January 27, 2020 17:48 UTC