Stellaris’s key investment areas include local language online services, technology-led
financial inclusion, supply chain networks, vertical machine learning applications and SaaS
(From L to R) Stellaris Founding Partners Ritesh Banglani, Alok Goyal, and Rahul Chowdhri
Ritesh Banglani, Alok Goyal and, Rahul Chowdhri — seasoned venture capital professionals and former partners at Helion Venture Partners — has launched an early-stage technology focussed fund with a corpus of US$100 million.
Christened Stellaris Venture Partners, the VC fund has also announced the first close of the maiden fund.
The Series A-oriented fund will invest in technology businesses solving India-specific problems, as well as global software products from India. Its key investment areas include local language online services, technology-led
financial inclusion, supply chain networks, vertical machine learning applications, and global SaaS businesses.
“We will look to invest up to US$3 million in a company at the time of entry, but also keep significant reserves for follow-on funding. In a successful company, we may even go up to US$15 million,” Banglani told e27.
The firm has already made two investments — B2B e-commerce marketplace Wydr and an undisclosed startup, and is looking to make on average 18 to 20 investments from this.
Stellaris is on track for a final close in 2017, according to an official statement. It has secured capital commitments from financial institutions, corporates, entrepreneurs and family offices in the US, Europe and Asia.
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Banglani, Partner at Stellaris, said: “We have assembled a strong syndicate of Limited Partners for our first fund. Indian tech companies are set to create US$500 billion of value over the next decade, and our fund gives its investors the opportunity to participate in this value creation.”
Stellaris has also created a network of more than 50 successful entrepreneurs and business professionals in India and abroad, who work closely with the partnership to help identify promising investments, advise the portfolio and
selectively co-invest with the fund. The names include TaxiForSure (acquired by Ola in 2015) Co-founders Aprameya R and Raghunandan G, Indify founder Alok Mittal, Capillary Technologies Founder Aneesh Reddy; as well as investors and business leaders like Kanwaljit Singh, Founder of Helion and Fireside Ventures, and Neeraj Agarwal, India Head of the Boston Consulting Group.
Stellaris has offices in Bangalore and Delhi NCR.
Goyal has more than 20 years of experience, including as COO of SAP India, where he was responsible for all the go-to-market functions of SAP India. Chowdhri has more than 19 years of experience working in venture investing, strategy consulting, business planning, software product management, and project execution in India and the US.
Banglani has more than 18 years experience in venture capital and operating roles in technology companies. Previously, Banglani was a Vice President at IDG ventures and held various operating roles at Adobe Systems, July
Systems and Synopsys.
In the past, the trio have invested in market leaders such as Taxiforsure, BigBasket, ShopClues, Axtria, Lifecell and Simplilearn.
Early this year, seasoned VC investor and Co-founder of LetsVenture, Manish Singhal, launched a US$30 million VC fund, pi Ventures, which looks to invest in the hardware, IoT, and machine learnings sectors.
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