Bengaluru: Jupiter Capital, who is the Rajeev Chandrasekhar family office, the State Union Minister for Electronics and Information Technology, Morphing is a special fund with a focus on investment in SaaS companies.
David Abikzir, Executive Director and Chief Investment Officer of Jupiter, said Jupiter’s capital would launch a $ 150 million called J1 capital.
The plan is to have the first closure of $ 50 million in the first quarter of 2022-23.
“Jupiter Capital wants to be a billion-dollar asset manager in seven years and is recognized as a global top investment company.
We are targeting a disturbing B2B startup that utilizes Indian technology ecosystems to build global products.
We will invest early in the company’s life cycle, usually inside Pre-series A Ronde and companies where companies have full products, customer traction, and insight into the economic field.
We are associated with several family offices for J1 capital, “Abikzir said.
Before the capital Jupiter, Abikzir worked with $ 6 billion, CDC IXIS private equity, focused on technology companies in Europe and the US.
“Rajeev is an advisor on the board.
We want to build institutions and don’t keep the family office,” he said.
Jupiter Capital will invest $ 1 million to $ 10 million in every portfolio company.
Abikzir said he would launch two more funds – J2 capital funds and J3 capital funds were sizes with $ 350 million and $ 500 million.
The Indian SaaS industry has more than 1,000 companies, with more than 150 companies that generate birthday income (ARR) of more than $ 1 million.
The Nasscom report said SaaS companies played purely have the potential to grow $ 13- $ 15 billion in collective income in 2025, from $ 2.5 billion at this time.
India has many SaaS Unicorn, including Zoho, Freshworks, Postman, Highradius, Druva, and Icertis.
“The Indian company currently accounts for less than 3% of the Global SaaS market of $ 100 billion.
India has a large number of B2B SaaS startups that are ready for massive growth.
But the lack of market insight and customer access caused 95% of the Indian B2B startup to the Flatline in Less than $ 10 million ARR (birthday income), “Abikzir said.