jupiter capital: Jupiter Capital to launch $150 million fund


BENGALURÚ: Jupiter capital, which was the family office of Rajeev Chandrasekhar, the Union Minister of State for Electronics and Information Technology, is transforming into a specialized fund with a focus on investing in SaaS companies.
David Abikzir, the chief executive officer and chief investment officer of Jupiter Capital, said that Jupiter Capital will launch a $ 150 million fund called J1 Capital. The plan is to have the first close of $ 50 million in the first quarter of 2022-23.
“Jupiter Capital wants to become a billion dollar asset manager in seven years and be recognized as one of the world’s leading investment firms. We are targeting disruptive B2B startups that leverage India’s strong tech ecosystem to build global products. We will invest early in the life cycle of the business, typically in rounds prior to Series A and Series A, where the business has a complete product, customer traction, and knowledge of the economics of the unit. We are associated with several family offices for J1 Capital, ”said Abikzir.
Prior to Jupiter Capital, Abikzir worked with a $ 6 billion fund, CDC IXIS Private Equity, focusing on technology companies in Europe and the United States. “Rajeev is an advisor on the board. We want to build an institution and not continue to be a family office ”, he said. Jupiter Capital will invest between $ 1 million and $ 10 million in each portfolio company. Abikzir said it will launch two more funds: J2 Capital Fund and J3 Capital Fund with a size of $ 350 million and $ 500 million respectively.
India’s SaaS industry has more than 1,000 companies, with more than 150 companies generating Annual Recurring Revenue (ARR) of more than $ 1 million. TO Nasscom The report said that pure gaming SaaS firms have the potential to grow to $ 13- $ 15 billion in revenue collectively by 2025, from the current $ 2.5 billion. India has many SaaS unicorns, including Zoho, Freshworks, Postman, HighRadius, Druva and Icertis.
“Indian companies today represent less than 3% of the global $ 100 billion SaaS market. India has a lot of B2B SaaS startups poised for massive growth. But the lack of market information and customer access makes 95% of Indian B2B startups stand firm at less than $ 10 million ARR (Annual Recurring Revenue), ”said Abikzir.

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