Rocketship.vc, a Silicon Valley-based early-stage venture capital firm which has invested in Indian startups such as NoBroker and Moglix, announced that it has raised $100 million for its second fund.
“Today, we’re excited to announce that we have closed our second fund – totaling $100 million – to help us democratize access to venture funding through the power of data science,” Rocketship.vc said in its press statement.
The new fund will help Rocketship.vc to continue investing globally across different sectors and company stages. It will also enable the venture capital firm to increase its number of follow-on investments.
The second fund is more than double the size of its debut fund of $40 million that was closed in 2015, Rocketship.vc said in a statement.
Limited Partners (LPs) in the new fund include Vulcan Capital and Adams Street Partners, a global private markets investment firm with assets under management of $41 billion. Vulcan Capital is the investment arm of Vulcan Inc., which was founded by Microsoft co-founder and philanthropist Paul G. Allen.
The family office of American entrepreneur and investor Marc Andreesen and Chris Dixon, general partner at venture firm Andreessen Horowitz, also contributed to the fund.
Founded in 2015 by Anand Rajaraman and Venky Harinarayan, Rocketship.vc has invested in 44 companies across seed, Series A and Series B rounds, with 46% of investments outside the US.
Its early investments included fashion portal Fynd, on-demand delivery services startup and auto-rickshaw aggregator Jugnoo. It later invested in companies such as business-to-business industrial goods marketplace Moglix and property listings portal NoBroker.
In 2020, Rocketship.vc invested in SME-focussed fintech startup Khatabook and mobility startup Yulu.
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