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Indian VC

Avataar Ventures: A Santa Clara Firm Backing India's SaaS Leaders

Avataar Venture Partners is a Santa Clara-based growth-stage venture capital firm founded by Mohan Kumar and Nishant Rao in July 2019, with an office in Bangalore, India. The firm backs B2B and SaaS companies with at least $15 million in annual recurring revenue, typically investing $10 million to $30 million per company. It now manages more than $1 billion across its funds, backing companies including Capillary and Zenoti.

Overview

Avataar Venture Partners is a growth-stage venture capital firm based in Santa Clara. Mohan Kumar and Nishant Rao founded the firm in July 2019. Kumar previously led Norwest Venture Partners in India. Rao had served as global COO of Freshworks and MD of LinkedIn India. George Thangadurai, a former Intel executive, joined as a founding partner too. The firm also runs an office in Bangalore, India.

Investment Focus and Stage

Avataar Venture Partners backs B2B and SaaS companies at the growth stage. It typically invests $10 million to $30 million per company. The firm looks for businesses with at least $15 million in annual recurring revenue. It takes an operational, hands-on approach after each investment. The team helps portfolio companies scale toward global outcomes and eventual IPOs.

Fund Size and Portfolio

Avataar launched with a $300 million fund backed by HarbourVest Partners. A $100 million top-up fund followed in 2021 for further bets. The firm now manages more than $1 billion in assets. Capillary and Zenoti both count among its earliest confirmed investments. Capillary later completed its public listing as an Avataar-backed company.

Leadership

Mohan Kumar co-founded Avataar Venture Partners and serves as founding managing partner. He spent years investing in India's tech sector before this move. Nishant Rao co-founded the firm alongside him as founding partner. Rao's background spans LinkedIn, Freshworks, McKinsey, and MIT. George Thangadurai rounds out the founding team as operating partner.

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