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More than 65% of the commitments for the first close came from overseas Limited Partners (LPs), or investors.
The fund is anchored by Self-Reliant India Fund, HDFC Asset Management Company, and HDFC AMC Select AIF FoF.
Existing Razorpay merchants can access the feature without any additional integration, as it is already available through the company's checkout ecosystem.
The round also saw participation from a group of angel investors.
The fund will be anchored by Safari Commercials, with Alphagrep Group's Mohit Mutreja among its Limited Partners (LPs).
New-age startup IPO class faces a reality check. Stocks have stumbled, yet early investors are cashing out.
The fund has secured commitments from institutional investors and family offices.
The funding round also saw participation from Info Edge and other angel investors.
The startup plans to use the fresh funds to expand its team and enhance product capabilities among others.
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.
The funding round saw participation from investors based in the US and India.
Out of the total allocation of 3.52 crore equity shares to the anchor investors, 76.74 lakh equity shares were allocated to two domestic mutual funds through a total of 4 schemes.
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.
Alphawave Global and Shepherd’s Hill Group participated in the funding round.
The fintech claims to be one of the first three apps in India to enable digital foreign exchange services to mobile.
According to the company, it built $100mn in AUM in just over 24 months from launch and saw over 170 million users flow through Niro at peak.
The fund witnessed backing from around 35 Japanese Limited Partners (LPs), or investors, underlining continued interest from Japan in India's startup ecosystem.
Google's capital commitment is aligned with broader industry trends as technology corporations accelerate domestic data center construction to support the rapidly expanding AI sector in the US.
