Early-stage angel VC firm Peaceful Progress Fund closes first fund at Rs 50 Cr
The SEBI-registered CAT-I AIF has invested in 22 startups across industries and aims to expand its portfolio with 25 more in three years.
Peaceful Progress Fund, dedicated to co-investing in early-stage businesses in tech-enabled, consumer goods and mobility segments, closed its first fund at Rs 50 crore.
The Chennai-based SEBI-registered CAT-I Alternative Investment Fund (AIF) has invested in 22 startups across industries including Zypp Electric, Garuda Aerospace, Bombay Shaving Company, Revamp Moto, Lissun, Liger Mobility, Supply6, Zomoz, Tessol, CargoFL, and Wellversed, the company said.
“The successful close of the Peaceful Progress Fund marks a key milestone for us. It reaffirms our commitment to empowering startups that redefine industries and tackle critical challenges. Our rigorous evaluation process and expert-driven strategy ensure every investment creates sustainable and innovative solutions,” the General Partners said in a statement.
The General Partners of the fund include Srinivasan Arunachalam, Kamal Agarwal Sitaraman Parthasarathy and Chandrashekar Kupperi, and Venture Partners Govindarajan Srinivasan and Viswanath Ganapathy.
The fund also said that with a strong pipeline of high-potential startups, it plans to invest in more than 25 additional startups over the next three years.
Its focus areas in the tech-enabled domain include AI, ML, IoT, VR, and MR. Meanwhile, in the non-tech sectors, it focuses on FMCG startups operating on B2B, B2B2C, B2C, and D2C models, and mobility including electric vehicles, drones and spacetech.
Edited by Affirunisa Kankudti