Veteran investor Radhesh Kanumury announces a new fund for SaaS start-ups

Seasoned investor Radhesh Kanumury has announced his new fund - Suvan Ventures, an early stage B2B Indian cross-border fund which would be focused on software-as-service (SaaS) companies. The fund size is expected to be $10-15million, making 20-25 investments.

Suvan Ventures will identify and invest in companies early in their lifecycle and help them scale by providing mentoring, as well as invaluable connections to investors, partners, subject matter experts, system integrators and potential customers.

A report by Bain & Co. noted that global SaaS companies from India have an immense potential. According to the report's forecast, Indian SaaS firms can have a combined annual revenue of $30 billion by 2025.

The potential of this sector is in-fact supported by companies like Browerstack, Druva, Freshworks, Zenoti, Chargebee, Mindtickle, Postman, and Uniphore that have attained a ‘unicorn status’ -- or $1 billion in valuation -- in the recent past. Further, the successful IPO of Freshworks at Nasdaq, reaffirms the stability and momentum of the indigenous B2B cross-border SaaS sector, an official statement said.

Kanumury has also been founding member and managing partner of Arka Venture Labs (built from scratch with 3 anchor investors namely Blume, BGV and Emergent Ventures), a venture fund that successfully pioneered this category till December last year.

“I have had immense learning from Arka Venture Labs that I would like to incorporate in Suvan Ventures. Specialised funds like Suvan Ventures can play an important role in the journey of Indian B2B cross border companies. We already have anchor commitments from family offices and marquee angel investors,” Kanumury said.