Avataar Ventures raised $100 mn for new Opportunities Fund
Growth-stage operational fund Avataar has raised approximately an additional $100 mn for Opportunities Fund, that will be utilized for strategic top-up opportunities in star portfolio companies, as well as to make new investments. With this raise, the team says that they welcoming a few large institutional funds (LPs across Europe and the US) to the Avataar family.
Mohan Kumar, Founding Partner, Avataar Fund, said in the press statement, “The fact that our new LPs have trusted us with additional capital (in less than a year-and-a-half of being live with Fund1), and despite purely remote interactions during the pandemic, is inspiring." The team added that the focus will remain on making $10-30 mn growth-stage investments in B2B and SaaS companies that have at least $15 mn ARR, and are looking to scale globally.