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Pentathlon Ventures Launches Rs 450 Cr Fund II to Invest in 25 B2B SaaS Start-ups 

Pentathlon Ventures Launches Rs 450 Cr Fund II to Invest in 25 B2B SaaS Start-ups 

The seed stage B2B SaaS-focused VC firm has invested in 23 start-ups through its first fund.
The Fund II, managed by the firm’s robust team of B2B SaaS experts, will also deploy strategic initiatives to help its portfolio start-ups scale globally.

Pune, 5th September 2023:

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 Crores. The fund aims to invest in 25 B2B SaaS start-ups. 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 VC firm was founded in 2020 by a team of marquee entrepreneurs and industry veterans:

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). Together, the founders bring over 150 years of combined entrepreneurial experience, making Pentathlon Ventures a unique VC fund created by entrepreneurs to support fellow entrepreneurs.

Commenting on the fund’s investment thesis, Pentathlon Ventures’ Managing Partner Sandeep Chawda said, “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 70-80%, it presents extraordinary prospects of 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.”

For Fund II, Pentathlon Ventures is raising capital from a mix of domestic and global limited partners encompassing successful Business leaders, Corporates and Institutions. Upholding its founder-centric values, the fund taps into its partners’ vast expertise and network, its innovative tech partnerships, and unique initiatives to provide comprehensive support to its portfolio start-ups. For example, through its “GTMDialogues” program, Pentathlon Ventures has built a community of SaaS Founders and GTM Leaders to provide mentorship on crucial entrepreneurial aspects, including Go To Market strategies, product distribution, and user acquisition. 

Speaking on Fund II, Pentathlon Ventures’ Managing Partner Gireendra Kasmalkar said, “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.”

Through its first fund, the VC firm has invested in 23 start-ups, with a remarkable track record of successful exits, and follow-on investments. Its investments, combined with strategic initiatives, have boosted its portfolio companies’ revenues extraordinarily within just 2-3 years. Some of the fund’s portfolio companies include Deeptek, Rezolve, Spyne, DistaTurboHire and ShopSe, among others. 

About Pentathlon Ventures:

Pentathlon Ventures is an early stage VC Fund focusing on the thriving B2B SaaS space in the Indian startup ecosystem, leveraging the innovation, talent and cost advantage to build global products. It works with early-stage technology companies to scale their business by providing Expertise, Ecosystem & Capital. Pentathlon Ventures’ mission is to empower ambitious tech entrepreneurs at every stage of their journey. As a founder-led VC firm, it aims to bridge the gap between Angel and Series A+ rounds, supporting innovative startups to grow and succeed.

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