23 September 2019, Bangalore | AVATAAR VENTURES
Avataar - backed by HarbourVest Partners to launch new VC paradigm to help fund & globally scale B2B/SaaS companies
Avataar Capital Management (“Avataar”) is excited to publicly announce the formation of Avataar Venture Partners I, bringing together an ethos of operationally focused venture capital investing. The fund will focus on making $10 – 30M growth-stage investments into B2B and SaaS companies that have at least $15M of Annual Recurring Revenues and are looking to scale globally. Avataar was founded on the belief that to successfully build, scale and accelerate the growth of companies; entrepreneurs will need partners with operational action bias. At closing, Avataar has acquired stakes in six B2B SaaS companies, namely Appnomic, Capillary, CRMNext, ElasticRun, Manthan and Zenoti from Norwest Venture Partners.
Avataar will work with companies and their leadership teams to deliver on important initiatives that will help scale their businesses. Avataar will be led by Mohan Kumar – former Partner at Norwest Venture Partners India and Nishant Rao – ex COO Freshworks who will work with a global team of seasoned senior executives to help scale the companies.
Mohan & Nishant say, “With Avataar we want to create an ecosystem of strong execution focused partners who have built scale, have seen the story before and can bring timely learning from past successes and failures to our entrepreneurs. The fund will focus on bringing this as a key differentiator beyond the capital. The partnership with HarbourVest will allow us to provide the capital needed to scale our businesses.”
“As an investor in Avataar Venture Partners I, we are delighted to be partnering with Avataar to provide the necessary resources for the companies to reach their maximum potential and we look forward to working with the team as it executes its strategy of scaling these companies into global businesses,” said Tim Flower, Managing Director, HarbourVest Partners.About HarbourVest
HarbourVest is an independent, global private markets investment specialist with 36 years of experience and more than $64 billion in assets under management, as of June 30, 2019. The Firm’s powerful global platform offers clients investment opportunities through primary fund investments, secondary investments, and direct co-investments in commingled funds or separately managed accounts. HarbourVest has more than 500 employees, including more than 125 investment professionals across Asia, Europe, and the Americas.
This global team has committed more than $37 billion to newly-formed funds, completed over $21 billion in secondary purchases, and invested over $11 billion directly in operating companies. Partnering with HarbourVest, clients have access to customized solutions, longstanding relationships, actionable insights, and proven results.About Avataar Venture Partners
For further information, please visit www.avataar.vc