Pentathlon Ventures secures Rs 255 crore for B2B tech startups in Fund II

Pentathlon Ventures has closed its second fund at Rs 255 crore. The firm will use the capital to back 16 to 20 seed-stage startups in B2B technology. So far, eight companies have already received funding, with several showing rapid growth. The new fund, Fund II, targets early-stage investments in enterprise AI, fintech, healthtech, cybersecurity, logistics, and manufacturing. Managing partner Ashok Mayya highlighted strong founder talent in these sectors. He noted particular promise in AI, fintech, and industrial tech.

The firm has already backed eight startups, including OneStack, AyushPay, Vodex, and ElevateHQ, along with four others not yet named. Many of these companies have grown over threefold since investment. This early success aligns with Pentathlon's focus on scalable, enterprise-driven solutions.

Gireendra Kasmalkar, also a managing partner, confirmed the strategy remains on track. The fund will lead or co-lead seed rounds to work more closely with founders from the start. To support global expansion, Pentathlon has set up a US feeder fund and hired a US-based partner.

Backing for Fund II comes from family offices, high-net-worth individuals, and entrepreneurs across India, the US, and the Middle East. The firm aims to build a portfolio of 16 to 20 startups by the fund's completion. With half its target portfolio already funded, Pentathlon Ventures is pushing ahead with its B2B tech focus. The early growth of its investments suggests strong momentum in enterprise-driven sectors. The firm's expanded international reach and investor base will support further scaling of its portfolio companies.