Triton, a Mumbai-based VC firm, has announced the first close of its second fund, targeting a total corpus of INR 240 crores ($28 million), which is more than 5x larger than its first fund.
This fund will continue to maintain a strong focus on B2B Tech and tech-enabled services and aims to drive innovation while backing high-potential startups in these sectors.
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Triton Fund I invested across Enterprise SaaS, AI, B2B marketplaces, and marketing services, supporting transformative businesses in India’s tech landscape. As Fund I nears completion with strong returns and high investor confidence, Triton is well-positioned to execute its ambitious vision for Fund II.
Pradyumna Dalmia, Managing Partner at Triton, said, “Triton Fund II reflects our dedication to driving innovation in B2B Tech and supporting the next generation of transformative companies in India. With the strong performance of Fund I, we are well-positioned to build on our success and create significant value for both our investors and portfolio companies.”
Dev Raman, Partner at Triton, said, “With the funding euphoria behind us, we are now seeing high-quality founders adopting a more prudent approach to capital. We believe this will lead to a new wave of companies with strong economic foundations. At Triton, we aim to provide patient capital and strategic support to help these businesses scale and succeed.”
Triton Fund II will invest in pre-Series A and Series A rounds, with initial investments ranging from INR 8–16 crores per company. The fund will maintain its core focus on B2B Tech and tech-enabled services, prioritizing sectors such as Enterprise SaaS, SMB Tech, Agentic AI, DeepTech, and Tech-enabled Services.
Headquartered in Mumbai, Triton has built a strong reputation for its deep expertise in technology-driven enterprises and a nuanced understanding of the Indian startup ecosystem. The firm prides itself on achieving a 100% success rate i.e. no delinquency across its portfolio – a feat in the investment landscape.
