Local venture capital firm BoldCap has announced the launch of its second fund, which will invest $25 million over the next 24 to 36 months in 15 to 20 early-stage firms. Among the first Indian venture capital firms to focus on international B2B SaaS startups from the nation, Chennai-based BoldCap also displayed its Fund 1 portfolio, which includes companies like Spendflo, TestSigma, Spotdraft, and Locofy.

"Today, India is home to several international B2B software companies, many of which were created by engineering or product teams. This is why a go-to-market (GTM) oriented early-stage fund will fit nicely inside the current VC ecosystem in India, with pooled experience and industry connections to help them scale swiftly "Founder and General Partner of BoldCap Sathya Nellore.

Prior to this, Sathya co-founded a software business that was supported by the MongoDB developer data platform. According to the VC firm, the new investment was made by international institutions and family offices. By 2030, SaaS enterprises from India might generate $50–$70 billion in worldwide revenues, accounting for 5-7% of the global market share.

Nellore, "We think Indian businesspeople are thinking more boldly and globally, and we will see a lot more SaaS enterprises for the globe being established from India." Over the past five years, Indian SaaS startups have reportedly garnered over $4 billion in VC funding, according to Tracxn and SaaSBoomi.

The BoldCap Fund I made investments in ten businesses, and four of them have achieved $1 million in annual revenue in less than 15 months. According to the startup, the portfolio firms have raised over $70 million in follow-on fundraising in total over the previous 12 months, placing the fund in the top quartile in terms of performance.