Early-stage B2B tech fund Triton announces first close of Fund II at Rs 120 crore

Mumbai-based venture capital firm Triton has announced the first close of its second fund, targeting a total corpus of Rs 240 crore ($28 million), more than five times the size of its first fund.

The firm said the fund will continue to focus on B2B tech and tech-enabled services, aiming to drive innovation while backing high-potential startups in these sectors.

Triton is an early-stage venture capital firm that backs B2B Tech and tech-enabled businesses with high-growth potential. It has backed notable startups like Recykal, ZingHR, CamCom, and Bizom, among others.

Fund I investments

Triton Fund I successfully invested across enterprise SaaS, AI, B2B marketplaces, and marketing services. As Fund I nears completion with strong returns and high investor confidence, the firm said it is well-positioned to execute its vision for Fund II.

"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," said Pradyumna Dalmia, Managing Partner at Triton.

Investing in pre-Series A and Series A rounds

Triton Fund II will invest in pre-Series A and Series A rounds, with initial investments ranging from Rs 8 crore to Rs 16 crore per startup.

The fund will maintain its focus on B2B tech and tech-enabled services, prioritizing sectors such as enterprise SaaS, SMB tech, agentic AI, deep tech, and tech-enabled services.

"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," said Dev Raman, Partner at Triton.