Technology investor Iron Pillar adds $45 million top-up to its Fund-I

Iron Pillar, a venture growth investor specializing in mid-stage technology investments in India, on Monday announced the successful closing of its $45 million top-up fund. This fund will top-up Iron Pillar Fund-I that held its final close in 2018 with capital commitments of $90 million.

The top-up fund will provide Iron Pillar additional capital to back specific Fund-I portfolio companies that are thriving even in the current market conditions. Fund-I has already made eight investments, with very strong portfolio performance to date, including one exit from SaaS company Now Floats, acquired by Reliance Jio in December 2019.

“The current crisis and its second-order effects have reduced the amount of growth capital available for tech companies in India,” said Anand Prasanna, Managing Partner, Iron Pillar.