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PRESS RELEASE: TrueScale Capital, a Series B/C specialist in the venture growth market in India, launched operations today.
This investment firm is headed by Sameer Nath, Co-founder, Iron Pillar (an India focused venture growth investor) and Managing Partner, Iron Pillar India Fund I.
The capital team includes the entire Iron Pillar India Fund I team based in Mumbai: Sanjna Tulsiani (Associate), Sameer Sheth (CFO), and Samay Kala (Financial Controller). Karan Ahuja joins the team as Principal and will be based in Bangalore.
TrueScale Capital will seek to partner with proven founders who are demonstrating meaningful revenue and growth in large target markets in a capital-efficient manner and with leading early-stage investors, leveraging trusted relationships. TrueScale Capital will invest in both consumer and enterprise technology companies being built out of India.
The venture growth segment in India remains relatively untapped, offering attractive opportunities to back companies as they break out from the early-stage. TrueScale Capital will focus on these venture growth investment opportunities. The TrueScale Capital team’s in-depth market analysis shows that Series B/C raises in India (with round sizes up to $25 million) have been increasing steadily, from $454 million in 2016 to $1 billion in 2020, representing a CAGR of 22%.
Sameer Nath, Managing Partner, TrueScale Capital observed: “We are excited to announce our new venture. It is the right time to launch our investment firm considering that Iron Pillar India Fund I is almost fully deployed and that this is an opportune juncture to invest in Indian technology. We are enthusiastic about the Series B/C investing opportunity and the high-quality deal pipeline we are developing. Finally, we have been delighted with the encouraging feedback we have received from entrepreneurs, investors, and the broader ecosystem.”
The TrueScale Capital team brings specialist growth expertise to the India venture ecosystem. Sameer has 22 years of experience in venture investing, entrepreneurship, technology M&A and capital markets exits, and strategy consulting. Before co-founding Iron Pillar in January 2016, Sameer was a Managing Director and senior investment banker at Citigroup, where he had a successful 15-year career. Karan brings 12 years of experience in public equity and ventures investing equity research and corporate finance. Karan’s technology investing and capital markets experience complements Sameer’s and is directly relevant to TrueScale Capital’s investment strategy. Sameer remains Managing Partner, Iron Pillar India Fund I. In addition to operating TrueScale Capital, Sameer and his colleagues will continue to diligently fulfill all their responsibilities about Iron Pillar Fund I vehicles.
TrueScale Capital has also assembled a seasoned advisory council comprising Vaibhav Domkundwar, one of India’s leading micro venture capitalists; Ben Druskin, a Wall Street veteran and leading technology dealmaker globally; and Harish Hulyalkar, a senior technology investment banker in India and former partner at Iron Pillar India Fund I. Additional members of the advisory council will be announced in the coming months.