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The Bengaluru-based fund is targeting a corpus of Rs 150 crore, with a Rs 50 crore greenshoe option.
More than 65% of the commitments for the first close came from overseas Limited Partners (LPs), or investors.
The fund will be anchored by Safari Commercials, with Alphagrep Group's Mohit Mutreja among its Limited Partners (LPs).
The fund has secured commitments from institutional investors and family offices.
The total corpus includes a greenshoe option of Rs 250 crore.
Shailesh Lakhani and Harshjit Sethi, who were managing directors at the venture capital firm, had come together last year to form the venture capital firm.
Limited Partners (LPs), or investors in the fund include government entities such as the Fund of Funds for Startups managed by SIDBI.
The Limited Partners (LPs), or investors, in the fund include prominent technology leaders such as Aravind Srinivas, co-founder and CEO, Perplexity.
The fund witnessed backing from around 35 Japanese Limited Partners (LPs), or investors, underlining continued interest from Japan in India's startup ecosystem.
