B2B focused Avataar Ventures raises $100m in Opportunities Fund

BENGALURU: Avataar Ventures, which invests in tech-focused business-to-business (B2B) and software-as-a-service (SaaS) firms in the growth stage, has raised an additional $100 million in its Opportunities Fund as B2B startups gain more prominence.
Three large institutional investors from Europe and the US have invested in the new fund, which was set up by Silicon Valley investor Norwest’s executive director Mohan Kumar and former Linkedin India head Nishant Rao. Global private equity major HarbourVest Partners, which was the sole investor in Avataar’s maiden fund of $300 million, has also participated in this fund.
The Opportunities Fund will be used for strategic top-up investments in its best performing bets from the current…

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