Pentathlon Ventures secures ₹255 crore for early-stage B2B SaaS startups

Pentathlon Ventures has closed its second B2B tech fund at ₹255 crore. The funding round highlights growing investor confidence in early-stage B2B SaaS startups. The firm plans to support 16-20 new companies over the next five years.

Other funds, including Equirus InnovateX and Neon Fund, have also recently closed with similar goals in the SaaS, fintech, and AI sectors. Founded in 2020, Pentathlon Ventures has already financed 23 startups through its first fund. Eight of these came from Fund I, including ShopSe, Riskcovry, and TurboHire. Another eight, such as OneStack, AyushPay, and Vodex, have been backed by Fund II as of March 2026.

The new ₹255 crore fund will focus on sectors like ecommerce enablement, fintech, vertical SaaS, applied AI, sustainable tech, and healthtech. Investments typically range between ₹4-8 crore per startup. The core team, led by Sandeep Chawda, Saurabh Lahoti, and others, will manage the fund's deployment over five years.

Meanwhile, Equirus Group has closed its InnovateX Fund at ₹166 crore, targeting up to 15 startups in SaaS, deeptech, and fintech. Neon Fund has also raised $25 million for its third fund, concentrating on B2B SaaS startups using AI. These moves reflect a broader trend of rising interest in early-stage B2B tech ventures. Pentathlon's latest fund will support startups in key growth areas like AI, fintech, and sustainable tech. The firm's track record and expanded capital base position it to play a significant role in India's B2B SaaS ecosystem. With other funds also closing, the sector is seeing increased funding activity for early-stage innovation.