India, Dec. 13 -- Neon Fund, a VC firm started by the hosts of 100x Entrepreneur podcast (later rebranded to Neon Show), has announced the closure of its fourth fund at $25 Mn.

The Fund III, which was launched in 2023, is primarily focused on B2B SaaS startups leveraging AI. In a conversation with Inc42, managing partner Siddharth Ahluwalia said that the fund has already invested in 12 startups and plans to back 13 more startups in the next year.

Most of the 12 startups that the fund has invested in are in stealth mode. The VC firm has backed startups such as Game State Labs, Highperformr, Merlin AI, Zepic, Buddy, among others, through its fourth fund. It invests $500K to $1 Mn in startups.

"About 50% of the investments via this fund h...