Rockstud Capital, the prominent asset management firm, has successfully concluded the first close of its second alternative investment fund (AIF), securing an initial amount of INR 68 crore ($8.2 million). With an ambitious target corpus of INR 300 crore ($36 million), Rockstud Capital Investment Fund II is strategically positioned to support companies in their bridge rounds, product scaling endeavors, and fundraising efforts from institutional investors.
The fund strategically focuses on key sectors, including digitalization, sustainability, financial inclusion, health and safety, and consumption. Operating within the pre-Series A investment stage, Rockstud Capital plans to deploy capital ranging between $0.5 million and $1 million across startups.
Launched in March 2023, the INR 300 crore ($36 million) fund is Rockstud Capital’s second foray into backing startups at the pre-Series A and Series A stages. The firm’s inaugural fund, Rockstud Capital Investment Fund-Series I, rolled out in 2018, concentrating on investments in pre-Series A stage startups and NSE-listed equities.
This development follows Rockstud Capital’s recent partial exit from Everest Fleet, a startup backed by Uber. The asset management firm revealed that it executed a partial exit by divesting 50% of its stake in Everest Fleet, valuing the startup at INR 1,600 crore (approximately $192.23 million).
Founded in 2017 by Abhishek Agarwal, Rockstud Capital operates as an alternative asset management firm with a focus on Indian companies through SEBI-regulated products. Notable portfolio companies under its management include Everest Fleet, BigHaat, Instoried, Smartvizx, Fabheads, and NOTO.
In the current landscape, various institutional investors, including venture capital and private equity firms, are actively launching or concluding funds to support India’s evolving startup ecosystem. Aroa Venture Partners recently introduced the Aroa Opportunities Fund, targeting a corpus of INR 400 crore ($50 million). In February, Cactus Venture Partners finalized its maiden early-stage fund at INR 630 crore ($75.8 million), while Dutch venture capital firm Orient Growth Ventures concluded its second India and Southeast Asia (SEA) fund at $90 million.
