Knowlarity’s Ambarish Gupta backed Basis Vectors floats $50 Mn fund
Basis Vectors has come up with a technology and private equity fund worth $50 million which would primarily focus on software companies. Basis Vectors is a venture capital and private equity firm based out of New York.
The new fund of Basis Vectors would be mainly invested in B2B Software as a Service (SaaS) based companies.
In the newly launched fund, one of the partners of Basis Vectors – Cianna Capital is the lead investor. The other key limited partners of the fund are UHNW family offices of Rajesh Jain, founder of Netcore, and Tracxn’s co-founder Abhishek Goel.
Founded in 2019 by Ambarish Gupta and Upmanyu Misra, Basis Vectors claims to accelerate growth and make investments in lower-mid market vertical SaaS companies and help them build a sustained and long term business.
Gupta is the founder of cloud telephony company Knowlarity Communications and had led the company for around nine years before starting Basis Vectors.
Basis Vectors has invested in around 15 companies which includes e-commerce enabler EasyEcom, full-stack cognitive cloud platform Relecura, crypto lending startup Celsius, and online background screening company- HelloVerify.
The close of the first fund by Basis Vectors is a good sign for the SaaS ecosystem in India. While the funding in consumer internet companies is slated to plunge, investors are expected to turn towards software product companies.
Over the past year, Saas-based startups have managed to raise a significant amount of capital including large rounds. Icertis had turned into a unicorn after scoring $115 million in June 2019, Apponomic, Carestack, Urbanpiper, and Greytip had also raised over $60 million funds collectively last year.
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