Pentathlon Ventures announces Rs 450 Cr Fund II to Invest in B2B SaaS Start-ups 

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Pentathlon Ventures, an early-stage B2B SaaS-focused venture capital firm, has announced the launch of its second fund with a target corpus of Rs 450 crore (approx. $54.4 million). The venture capital firm is aiming to invest in 25 startups, with a primary focus on B2B (business-to-business) SaaS (software-as-a-service) companies. 

Pentathlon Ventures will support breakthrough solutions across Enterprise Digital Transformation, E-commerce Enablement, Fintech, Vertical SaaS, Applied AI, Sustainable Tech, and HealthTech in the B2B SaaS space.

The Pentathlon Ventures team

“The revenues coming from India-based B2B start-ups are expected to grow 25X in the next 8 years. With an impressive 50% faster time to revenue, better revenue predictability, and solid gross margins ranging between 70 and 80%, it presents extraordinary prospects for building sustainable businesses. In addition to these aspects, with our core expertise being in this space, early-stage B2B SaaS companies built from India continue to be our primary investment thesis. The success of our investments from Fund I further strengthens our commitment to this strategy,” Pentathlon Ventures’ Managing Partner Sandeep Chawda commented on the fund’s investment thesis.

Fund II expectations

For the second VC fund, the firm is raising capital from a strategic mix of global and domestic limited partners encompassing prominent business leaders, corporations, and institutions. The firm accelerates its plan through an insightful focus on its founder-centric values. The fund will provide all-inclusive support to its portfolio startups by utilising their partners’ vast network and expertise, innovative tech partnerships, and unparalleled initiatives.

“Couple of decades back, India was known for off-shore IT services. Later, B2C start-ups gained prominence because of India’s population/consumption story. Today, Indian B2B start-ups are on their way to become global leaders within this decade. Add to this the tailwinds from the global focus moving to India. We are truly on the cusp of a huge virtuous cycle,” said Pentathlon Ventures’ Managing Partner Gireendra Kasmalkar, pertaining to Fund II.

Previously, through its GTM Dialogues programme, the Pune-based firm built a community of GTM leaders and SaaS founders to provide mentorship on imperative entrepreneurial aspects. This business expertise guidance included go-to-market strategies, product distribution, and user acquisition.

The VC firm showed remarkable prospects through its first fund, wherein it raised $10 million and invested in 23 startups. Their investments and strategic initiatives have propelled their portfolio companies’s revenue to higher ground in just 2–3 years. Their notable portfolio companies include Deeptek, Rezolve, Spyne, Dista, TurboHire and ShopSe, among others.

About Pentathlon Ventures 

Founded in 2020 by notable industry veterans, the firm boasts a combined field experience of over 150 years. With this robust team, Pentathlon Ventures provided a platform for seasoned entrepreneurs to support and guide up-and-coming entrepreneurs.

(From left) Managing Partners Sandeep Chawda, Shashank Deshpande, Hemant Joshi, Gireendra Kasmalkar, Madhukar Bhatia, Saurabh Lahoti

The VC firm’s board includes Gireendra Kasmalkar (Ideas to Impacts, Verisoft); Sandeep Chawda (Globant, Clarice,Veritas); Saurabh Lahoti (Grassroots Business Fund, Ennovent); Madhukar Bhatia (Sapience, Symphony, Veritas); Ashok Mayya (Rising Pharma, Citron Pharma); Hemant Joshi (Sapience, Symphony, Veritas); and Shashank Deshpande (Globant, Clarice, Veritas).

As an early-stage VC fund, Pentathlon focuses on the thriving B2B SaaS space in the Indian startup ecosystem. Supporting the talent and cost advantages to build global products; the company assists early-stage tech companies by providing expertise, an ecosystem, and capital.

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