Stellaris Venture Partners, an early-stage investment firm and backer of Indian unicorns Mamaearth and Glance, has closed its third fund at $300 million, per a statement.
DealStreetAsia first reported about the firm’s fundraising plans in earlier July.
Established in 2016, Stellaris is a technology-focused, generalist investment firm that invests in sectors such as SaaS, financial services, B2B commerce, consumer brands, social commerce, education, electric vehicles, and healthcare, among others.
With the current corpus, the firm plans to invest in 25-30 startups over the next three years.
It last raised $225 million for its second India-dedicated fund in 2021 and $90 million for its maiden fund in 2017.
Stellaris typically backs startups in their early stages and often comes in as their first or second institutional investor.
According to data available with Pitchbook, the firm has so far made over 80 investments which include online home decor and lifestyle brand Nestasia, logistics startup Loadshare, and education financing platform Propelld, among others.
Stellaris is understood to have clocked over 16 partial or full exits from startups so far. Last, the venture capitalist made headlines when it sold a small stake in Mamaearth for Rs 140 crore via a bulk deal in January this year.
