Iron Pillar Closes $129 Mn Fund

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Iron Pillar’s Global Cloud Fund II has closed with a corpus of $129 million. The fund is a part of Iron Pillar Fund II series of funds and will invest in Series B and C rounds of cloud software companies or software-as-a-service (SaaS) firms from India that sell their services globally. The fund’s deployment is led by Prasanna and Mohanjit Jolly. Iron Pillar has a unique investment model where it leads Series B / C rounds in its portfolio companies and later doubles down on the breakout businesses with 5x to 10x of its initial investment. The firm has nearly $500 million in assets under management, which includes $300 million in Fund I series, $129 million under the global cloud fund and several special purpose vehicles. The fund has attracted new investors including Endowments and Foundation, in addition to Iron Pillar’s existing institutional investors from the US, Europe and the Middle East. Entrackr’s quarterly funding report for March quarter shows that nearly 18 venture capitals have raised fund launches to back Indian startups from early to growth stage. Iron Pillar’s Global Cloud Fund II will invest in Series B and C rounds of cloud software companies or SaaS firms from India that sell their services globally. The fund’s deployment will be led by Prasanna and Mohanjit Jolly.

Iron Pillar has a unique investment model where it focuses on leading Series B/C rounds in its portfolio companies and then doubles down on breakout businesses with 5x to 10x of its initial investment. The firm currently manages nearly $500 million in assets, which includes $300 million in Fund I series, $129 million under the Global Cloud Fund II, and several special purpose vehicles.