B2B SaaS fund meeting with cloud tech and financial growth visuals.
Early-stage venture capital firm Pentathlon Ventures has announced the final closing of its second B2B tech fund, securing ₹255 Cr ($27.1 million). The fund aims to invest in 16-20 B2B SaaS startups across India and the United States.
The fund is backed by family offices, high-net-worth individuals, and entrepreneurs from India and the United States. Launched in September 2023 with an initial target of ₹450 Cr, the fund will focus on sectors including ecommerce enablement, fintech, vertical SaaS, applied AI, sustainable tech, and healthtech.
Pentathlon plans to invest between ₹4-8 Cr per startup. The fund has already invested in eight startups, including OneStack, AyushPay, Vodex, and ElevateHQ. The firm plans to deploy the capital over the next five years.
Founded in 2020, Pentathlon Ventures has backed 23 startups through its first fund, including Deeptek, Rezolve, Spyne, Dista, TurboHire, and ShopSe. Its first fund, launched in 2021, had a corpus of ₹76 Cr.
Pentathlon’s core team includes Sandeep Chawda, Saurabh Lahoti, Madhukar Bhatia, Ashok Mayya, Hemant Joshi, and Shahshank Deshpande.
Other early-stage VC firms focused on the B2B SaaS space include Equirus Group, which recently closed its InnovateX Fund at ₹166 Cr, and Neon Fund, which closed its third fund at $25 million.
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