David Abikzir, executive director and chief investment officer of Jupiter Capital, said Jupiter Capital will launch a $ 150 million fund called J1 Capital. The plan is to have the first $ 50 million close in the first quarter of 2022-2023.
“Jupiter Capital wants to become a billion dollar asset manager in seven years and be recognized as one of the best investment firms in the world. We target disruptive B2B startups that leverage India’s strong tech ecosystem to create global products. We will invest early in the business lifecycle, typically in the pre-series A and series A cycles where the business has a full product, customer traction, and insight into the business. unity economy. We are associated with several family offices for J1 Capital, ”said Abikzir.
Prior to Jupiter Capital, Abikzir worked with a $ 6 billion fund, CDC IXIS Private Equity, focusing on technology companies in Europe and the United States. “Rajeev is an advisor to the board of directors. We want to build an institution and not remain a family office, ”he said. Jupiter Capital will invest between $ 1 million and $ 10 million in each portfolio company. Abikzir has announced that he will launch two more funds, the J2 Capital Fund and the J3 Capital Fund with a size of $ 350 million and $ 500 million, respectively.
India’s SaaS industry has more than 1,000 companies, with more than 150 generating an annual recurring income (ARR) of over $ 1 million. A report from Nasscom said pure SaaS companies have the potential to reach $ 13 billion to $ 15 billion in revenue by 2025, up from $ 2.5 billion today. India has many SaaS unicorns including Zoho, Freshworks, Postman, HighRadius, Druva, and Icertis.
“Indian companies today represent less than 3% of the global $ 100 billion SaaS market. India has a large number of B2B SaaS startups poised for massive growth. less than $ 10 million ARR (annual recurring revenue), ”said Abikzir.