VC Firm Abyro Capital Announces New $25 Mn Fund, Will Invest In Indian, US Startups

Abyro Capital, an India and US-focused venture capital (VC) firm, has announced its first $25 million (approximately INR 210 crore) fund to support early-stage technology businesses in both countries.

Vamsi Kora launched Abyro Capital earlier this year. He previously cofounded SaaS platform Gathi Analytics, which was acquired by Goldman Sachs-backed Apexon in 2021.

In a statement, the VC company stated that it plans to back 12 to 15 startups over the next four years in industries such as artificial intelligence (AI), SaaS, healthcare, manufacturing, supply chain, and delivery, among others.

Abyro Capital stated that the fund will be led by operators and entrepreneurs, and that it will provide operational knowledge and access to global networks to its portfolio businesses.

“We believe that highly empowered teams combined with focused, consistent performance outperform anything else. “This fund represents our commitment to providing visionary founders with not only capital but also the resources, mentorship, and networks they require to achieve global success,” said Abyro finance founder and managing partner Vamsi Kora.

Related: Venture Capitalist Stellaris Finishes Setting Up Third India-Focused Fund Which Amounts to $300 Mn

Meanwhile, the venture capital firm has signed a memorandum of understanding (MoU) with Telangana government-backed incubator T-Hub to provide investment, mentorship, and operational assistance to cross-border entrepreneurs.

T-Hub’s interim CEO, Sujit Jagirdar, commented on the relationship, saying, “This collaboration with Abyro Capital shows our shared mission of empowering companies facing disruptive challenges. Together, we are paving the road for India’s innovators to take the lead on a global scale, demonstrating that Indian companies can compete and flourish in any market.”

The venture capital business will attempt to finance developing technology startups in India and the United States. It claims to have supported two firms so far: Reva Commerce, an ecommerce enablement platform, and HComb, an online recruitment company.

The development comes at a time when the Indian investor ecosystem is seeing healthy activity. As the financing winter ends and businesses return to profitability, India-focused venture capital (VC) and private equity (PE) firms are raising significant funds from limited partners to support local new-age tech ventures.

Stellaris Venture Partners recently closed its third India-focused fund for $300 million. In the same month, former World Bank executive Sayan Ghosh established Ortella Global Capital, a new INR 300 crore fund that will co-build firms with entrepreneurs.

Pavestone VC also recently closed its Pavestone Technology Fund at INR 816 crore, while Green Frontier launched an INR 1,500 crore fund to support climate innovation firms.