New Delhi, March 12 -- Silicon Valley venture capital firm Bessemer Venture Partners has raised $350 million (about Rs 3,050 crore) for its second India-focused fund, more than three years after rolling out its maiden investment vehicle for the country.
The VC firm, which has invested in more than 80 Indian startups including PharmEasy, Livspace, Swiggy, Urban Company, Medi Assist and BigBasket, said in a statement the second fund will back early-stage founders building across AI-enabled services and SaaS, fintech, digital health, consumer brands and cybersecurity.
The announcement comes barely days after VCCircle first reported that Bessemer had started the process to raise its second India fund and that it could aim to raise between $300 million and $400 million.
"As AI adoption accelerates, we see immense opportunities for innovation, and this fund allows us to back entrepreneurs shaping the next phase of India's digital economy," said partner Anant Vidur Puri.
Bessemer usually invests in companies early and supports them through their growth. It claims that more than 80 percent of its investments in India over the last five years have been in early-stage companies.
"This fund deepens our commitment to India's startup ecosystem as we continue backing the next generation of entrepreneurs building technology-led businesses," said Vishal Gupta, partner and managing director of the firm's Bengaluru office.
Bessemer set up its India presence nearly two decades ago in 2006. It has invested across sectors including digital infrastructure and healthcare. Some of its known investments include at-home services unicorn Urban Company, software firm Perfios, and healthtech startup Medi Assist, among others.
The firm's first dedicated India fund backed startups including Boldfit, MoveInSync, Pepper Content, Shopdeck, Vetic, and Zopper. It had raised $220 million for its maiden India fund in late 2021, aiming to back early-stage companies in seed and Series A rounds.
Its broader portfolio includes companies like BigBasket, Livspace, and Swiggy. The firm has also seen nine of its portfolio companies, including Swiggy, float their IPOs.
The firm has also clocked several exits, including from financial service company Home First Finance and Bengaluru-based health insurance third-party administrator Medi Assist. Notably, the firm recorded a 2,000x return on its investment in Medi Assist last year, marking one of the most successful exits by any alternative investment firm in India. That liquidity move earned the firm the 'exit of the year' award for the VC category at the recent VCCircle Awards 2025.
Globally, the firm launched its 12th flagship fund in 2022, raising $3.85 billion for early-stage investments. Additionally, it raised $780 million for a private equity vehicle to support growth-stage investments.
Published by HT Digital Content Services with permission from VC Circle.