Triton, a Mumbai-based venture capital firm, has announced the first close of its second fund, securing ₹120 crore out of its targeted ₹240 crore ($28 million). This new fund is over five times larger than its first and continues to focus on B2B technology and tech-enabled services.
Fund II will invest in pre-Series A and Series A startups, with initial investments ranging from ₹8–16 crore per company. With a strong track record in enterprise SaaS, AI, and deep tech, Triton aims to back innovative businesses and drive impactful growth in India’s startup ecosystem.
What is Triton?
Triton is a Mumbai-based early-stage venture capital (VC) firm that invests in B2B technology and tech-enabled businesses with high growth potential. The firm focuses on sectors like enterprise SaaS, AI, deep tech, SMB tech, and B2B marketplaces.
Triton has built a reputation for its deep expertise in technology-driven enterprises and claims to have a 100% success rate with its portfolio companies. It has previously backed startups like Recykal, ZingHR, CamCom, and Bizom.
Recently, Triton announced the first close of its second fund, targeting ₹240 crore ($28 million) to support high-potential startups in pre-Series A and Series A rounds.
Why is This Funding Significant?
Triton’s second fund marks a major expansion, being over five times larger than its first fund. This reflects strong investor confidence and a greater financial commitment to supporting high-growth startups. With a focus on B2B technology and tech-enabled services, including enterprise SaaS, AI, deep tech, and SMB tech, the fund aims to drive innovation in India’s startup ecosystem.
By investing ₹8–16 crore per company in pre-Series A and Series A rounds, it provides crucial early-stage capital to help startups scale. Given the success of Fund I, Triton is well-positioned to build on strong returns and back transformative businesses.
Additionally, as the funding landscape shifts towards more sustainable and financially prudent startups, Triton’s approach aligns with the changing market dynamics, ensuring long-term impact and growth.
How Will the Funds Be Used?
Triton Fund II will primarily be used to invest in early-stage startups across pre-Series A and Series A rounds, with initial investments ranging from ₹8–16 crore per company. The fund will focus on B2B technology and tech-enabled services, supporting startups in sectors like enterprise SaaS, AI, deep tech, SMB tech, and B2B marketplaces.
Triton aims to provide patient capital and strategic support, helping businesses scale efficiently and achieve sustainable growth. Additionally, the firm plans to leverage its expertise to drive innovation, market expansion, and long-term value creation, ensuring its portfolio companies achieve strong financial and operational success.
Founders’ Perspective
Triton’s founders, Pradyumna Dalmia and Dev Raman, emphasize their commitment to driving innovation and supporting high-potential startups.
Pradyumna Dalmia, Managing Partner at Triton, highlighted the firm’s vision for Fund II, stating, “With the strong performance of Fund I, we are well-positioned to build on our success and create significant value for both our investors and portfolio companies.” He emphasized that Triton aims to continue backing transformative businesses in B2B technology and tech-enabled services.
Dev Raman, Partner at Triton, addressed the evolving funding landscape, stating, “With the funding euphoria behind us, we are now seeing high-quality founders adopting a more prudent approach to capital. We believe this will lead to a new wave of companies with strong economic foundations.” He reinforced Triton’s strategy of providing patient capital and strategic guidance to help startups scale effectively.
Key Takeaways
- Larger Fund Size – Triton Fund II is ₹240 crore ($28 million), over five times larger than its first fund, showing strong investor confidence.
- Early-Stage Investment – The fund will focus on pre-Series A and Series A rounds, with ₹8–16 crore investments per company, supporting startups in their early growth phase.
- Sector Focus – It will continue investing in B2B tech and tech-enabled services, prioritizing sectors like enterprise SaaS, AI, deep tech, SMB tech, and B2B marketplaces.
- Proven Track Record – Fund I successfully backed startups like Recykal, ZingHR, CamCom, and Bizom, delivering strong returns and investor confidence.
- Strategic Market Approach – Triton believes the shift towards financially prudent startups will lead to sustainable growth, and it aims to provide patient capital and strategic support.
Conclusion
Triton’s Fund II marks a significant step in the firm’s journey, reinforcing its commitment to driving innovation and supporting high-growth startups. With a larger corpus and strategic focus on B2B tech and tech-enabled services, Triton aims to accelerate the success of early-stage companies in enterprise SaaS, AI, deep tech, and SMB tech.
As Fund I nears completion with strong returns, Fund II is poised to build on this momentum, providing patient capital and hands-on support. Looking ahead, Triton envisions fostering a new generation of transformative businesses, ensuring long-term value creation for investors and startups in India’s evolving tech landscape.
