Venture growth investor Iron Pillar, a specialist in mid-stage tech investments in India, is partnering up with Nitya Capital, a US investment firm with USD2 billion in AuM.
Venture growth investor Iron Pillar, a specialist in mid-stage tech investments in India, is partnering up with Nitya Capital, a US investment firm with USD2 billion in AuM.
Nitya Capital invested in Iron Pillar Holdings Ltd, alongside founding partners Anand Prasanna, Mohanjit Jolly and Ashok Ananthakrishnan, as part of the deal.
The new partnership will “significantly expand Iron Pillar’s network of investors, advisors and thought leaders,” said the VC firm.
Nitya Capital was founded by Swapnil Agarwal. Commenting on the partnership, Agarwal commented: “The Iron Pillar model is unique for its long-haul visionary approach to building large outcome technology companies from India.”
Anand Prasanna, founder and managing partner of Iron Pillar, said that he has often explored ways of connecting the US and Indian technology ecosystems with Agarwal.
“After getting the opportunity to back some great companies in our first fund, we were looking for a like-minded long-term partner who believed in India and the technological prowess of Indian entrepreneurs,” said Prasanna.
He added: “By being a partner with Iron Pillar through this investment, Nitya Capital will support us in our mission to build large and successful technology companies from India.”
Iron Pillar launched its USD 45 million Iron Pillar Top Up Fund last month to support portfolio companies from Iron Pillar Fund 1 that are performing well during the Covid-19 crisis.
The US is the largest traditional source of capital for Indian VCs and tech companies. Iron Pillar has helped many of its portfolio companies raise follow-on capital via its strong network of investors in the US, according to the firm.
One of Iron Pillar’s partners, Mohanjit Jolly, is based in Silicon Valley. As a result, portfolio companies can scale and address challenges by getting access to tech founders, CEOs, executives and mentors who are based there.
