To fill a void in the mid-stage funding space, venture capital firm Iron Pillar is trying to make a niche for itself by providing growth capital at the Series B to Series D stage.
Founded in early 2016, the VC firm has so far backed NowFloats, BlueStone and Servify and with the recent closure of its $90-million maiden fund, Iron Pillar is gearing up to pick up the pace and close two deals by year-end. Subsequently, it plans to invest in at least one company every quarter.
The six-member Iron Pillar founding team includes former Morgan Creek executive Anand Prasanna, former Citigroup India executives Sameer Nath and Harish Hulyalkar, former DFJ India head Mohanjit Jolly, former DBS executive Ashok Ananthakrishnan and former Xander Group executive Ashish Shah.
The fund recently partnered with global investment network Draper Venture Network to help gain global access for its portfolio companies as well as for Iron Pillar.
In an interview with DEALSTREETASIA, Harish Hulyalkar, Partner at Iron Pillar talks about the partnership with Draper network and China’s Fosun, as well as clearing the air about its reported investment in Snapdeal.
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