Mumbai-based venture capital firm Triton has announced the first close of its second fund ‘Triton Fund II’ with a total corpus of Rs 240 crore or $28 million, which is more than five times larger than its first fund, the VC announced in an official statement on Monday.
Triton Fund II will invest in pre-Series A and Series A rounds, with initial investments ranging from Rs 8-16 crores per start-up. This fund will focus on B2B tech and tech-enabled services, prioritising sectors such as Enterprise SaaS, SMB tech, Agentic AI, and Deeptech.
“Triton Fund II reflects our dedication to driving innovation in B2B Tech and supporting the next generation of transformative companies in India. With the strong performance of Fund I, we are creating significant value for both our investors and portfolio companies,” said Pradyumna Dalmia, Managing Partner at Triton.
Triton Fund I has invested across Enterprise SaaS, artificial intelligence (AI), B2B marketplaces, and marketing services to support India’s tech landscape. Dev Raman, Partner at Triton highlighted that the VC firm is now seeking ‘high-quality’ founders who adopt more prudent approach to capital.
“We believe this will lead to a new wave of companies with strong economic foundations. At Triton, we aim to provide patient capital and strategic support to help these businesses scale and succeed,” he added.
Triton is an early-stage venture capital firm that supports B2B Tech and tech-enabled new-age businesses. So far, it has supported start-ups including Recykal, ZingHR, CamCom, and Bizom, among others.
Currently, the government of India is also more focused on tech-based investments such as deeptech, artificial intelligence, R&D, and more. India has also officially positioned itself as a key participant in the global AI race with fresh allocations of DeepTech fund of funds in the Union Budget 2025. The government will explore this fund of funds to catalyse the next generation startups as a part of this initiative.
