SucSEED logs first closing of Rs 100 crore fund

Sebi-registered alternative investment fund and venture capital firm SucSEED Indovation announced the first closure of its main Rs 100-crore fund by raising Rs 40 crore.

The firm announced new investments in three startups — Stargate, Auris and Freestand. It also plans to back over 50 startups. SucSEED cofounder Vikrant Varshney said angel investors, CXOs in domestic and global enterprises, family offices and few family trusts have participated in the fund raise.

SucSEED said the second closing is targeted for February-March 2021, with a focus on corporate ventures, financial institutions, institutional entities, fund of funds and family offices.