BENGALURU: Mid-stage, technology focused venture capital fund Iron Pillar has raised $45 million, as a top-up to its first fund.
Iron Pillar Fund-I held its final close in 2018, receiving capital commitments of $90 million. The top-up fund will help the venture capital firm back specific Fund-I portfolio companies, which are doing well in current market conditions.
Iron Pillar was founded in 2017 by former Morgan Creek director Anand Prasanna, former Citigroup India investment banking head Sameer Nath, and former DFJ India head Mohanjit Jolly.
Through its Fund-I, Iron Pillar has made eight investments, and witnessed one exit from SaaS company, Now Floats, which was acquired by Reliance Jio in December 2019. “The current crisis and its