Kae Capital, which invests in early-stage companies, has raised $30 million from existing and new investors as part of its second fund. Sasha Mirchandani, Founder and MD, Kae Capital, confirmed that the firm will be raising an additional $10 million soon.
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; and a few high-net-worth individuals such as Manish Kejriwal, managing partner of Kedaara Capital, and Deep Kalra, founder and chief executive of online travel company MakeMyTrip Ltd.
From the first fund, Kae has invested in nearly 25 start-ups, including online fashion portal Myntra (acquired by online marketplace Flipkart in 2014), mobile advertisement technology InMobi and US-based data analytics company Fractal Analytics.
From its second fund, it has already invested in at least five start-ups. Kae had exhausted its previous fund in mid-2015 and has since been warehousing its investments, reports Mint. Warehousing is a process that allows venture capital firms to invest in start-ups even when they have exhausted their funds or are yet to raise a new fund.
Recently, Kalaari Capital too announced that it is planning to invest about $20 million in 40 startups over the next two years as a part of its seed and incubation programme.