SRI Capital Announces $100M Early Stage US-India VC Fund, Brings Reach and Skillset not Available with Most US and Indian VCs

Capital (SRI), an early stage venture capital firm focused on
funding innovative startups primarily in the US and in India, today
announced the launch of its maiden $100M early stage VC fund focused on
tech opportunities in the US and India. Anchored by a $20M commitment
from the family office of Sashi Reddi, managing partner, SRI, the fund
is raising capital primarily from investors in the US and Europe.

“There is a funding gap for Indian start-ups targeting US enterprise
customers,” says Reddi. “While Indian VCs have struggled to support
these US-focused startups, US VCs typically do not understand
India-based tech teams. SRI Capital will fill this gap.”

Additional partners in the fund include Doc Parghi, based in
Philadelphia, as well as two advisory partners based in India, to be
announced. The team brings a unique mix of operating and investing
experience, a long history of working together and partners based in
both the US and India. This combination of talent and resources delivers
a reach and skillset that are not available with most US and Indian VCs.

The fund will typically invest $1M to $3M in a start-up, with the
potential to invest in future rounds to support the growth of the
company. It expects to complete six to eight investments annually.

Utilizing this US-India model, SRI has backed over 15 startups over the
last five years, with successful investments including: ThinCI,
a chip company for autonomous driving that recently raised over $20M
from Japanese auto supplier Denso and a clutch of high profile industry
veterans; and PhenomPeople,
a new age recruitment SaaS offering, leveraging social media and machine
learning that recently raised $22M from multiple investors, including
Sierra Ventures and AXA Ventures. SRI Capital invested at the seed stage
in both companies.

SRI also backs startups founded by entrepreneurs who have studied and/or
worked in the US and relocate to India to launch their companies. Some
examples of successful investments with this US-India model are: YuppTV,
a leading OTT player for Indian content that recently raised $50 M from
Emerald Ventures, a media fund backed by KKR; HealthifyMe,
a healthy lifestyle startup that raised nearly $20M from IDG Ventures,
Samsung NEXT, Sistema Asia Fund, Inventus Capital, Blume and others; and FabHotels.
founded by two Wharton MBAs who relocated to India to launch one of
India’s leading budget hotel brands, which recently raised $25M from
Goldman Sachs. Again, SRI was the first outside investor in all three

Tushar Vashist, founder/CEO of HealthifyMe, says, “One of the first
investors I approached when launching HealthifyMe was SRI Capital, given
its reputation as being entrepreneur-friendly. They’ve stuck with us
through some early difficult periods as we pivoted multiple times to
find the right business model.”

To date, the fund has completed three investments including, IndianMoney,
and Sports

About SRI Capital

SRI Capital is an early stage venture capital firm focused on funding
innovative startups primarily in the US and in India, and global
startups that are looking to enter the US or Indian market. SRI Capital
is a US registered fund which launched its operations in January 2018.

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