Hyderabad Oct 4 (IANS) SRI Capital a leading early stage Venture Capital fund focussed on US/Indian start-ups plans to raise $60 million in three months for its $100 million Fund said company founder and Managing Director Sashi Reddy on Thursday.
A US registered early stage VC based in Philadelphia SRI Capital has already raised $40 million for the fund launched in January this year.
SRI Capital Fund-I invests in early stage tech start-ups that target the US enterprise market or the Indian consumer market.
He told reporters that Jay Krishnan who recently quit as Chief Executive Officer of T-Hub has joined as partner in SRI Capital.
Based in Hyderabad Jay will look after the deals out of India. He however is making no investment.
SRI Capital Fund-I has so far invested in IndianMoney LetsMD Sports Flashes Foyr and Fakespot. Sashi said three more deals were in the pipeline. "We are looking at 6-8 deals every year " he said.
Jay said the Fund s 75 per cent investment deals would be in enterprise tech start-ups either in India or the US while 25 percent would be in consumer start-ups all in India.
During the last five years SRI Capital invested $17 million in 30 start-ups. This was Sashi Reddy s own money. According to him this investment has grown to $70 million on paper.
One of its early investments ThinCI an AI chip company recently raised $65 million from Denso Temasek and others. ThinCI was incubated in SRI Capital s Hyderabad office. Another early investment of SRI Capital was YuppTV that recently raised over $50 million from Emerald Media a unit of KKR.
Sashi Reddy believes that with management teams and advisors in both the US and in India SRI Capital is uniquely positioned to fund and support cross-border innovation.

--IANS ms/tsb/sed