Together Fund raises $85M to support Indian SaaS startups

SaaS News - Together Fund raises $85M to support Indian SaaS startups (source: SaaS Industry)
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A group of Indian SaaS pioneers has announced the creation of the Together Fund, with an initial investment of $85M. The Together Fund’s goal is to invest in 20 to 25 companies at various stages of growth, from pre-seed to Series B.


A group of SaaS pioneers in India has announced the forming of the Together Fund. With an initial capital of $85 million, the fund would support young Indian software-as-a-service startups.

The group consists of Girish Mathrubootham of Freshworks; Shubham Gupta, formerly with investment firm Matrix; Avinash Raghava, formerly with Nasscom, iSPIRT, and SaaSBOOMi; and Manav Garg of Eka Corporation.

Together Fund aims to invest in 20 to 25 businesses at various stages from pre-seed to Series B. In an interview with TechCrunch, Mr. Garg stated that the firm’s check size would vary from $250,000 to $3 million.

Over 150 company founders and investors have joined the fund’s network, including Krish Subramanian of Chargebee, Nishith Rastogi of Locus, Shashank ND of Practo, and Kunal Shah of CRED. According to Mr. Garg, this exemplifies why the Together Fund was established. The entire team comprises startup founders and other operators with experience in sales strategy and worldwide expansion.

This is India’s first operator-and-founder-led fund. The idea of creating this fund was to provide great help and opportunities to the founders along with money.

Manav Garg of Eka Corporation

Today, Freshworks is a large company with more than 3,800 team members and offices all over the world. But almost eleven years ago, we were just a six-member team operating out of a small garage in Chennai. I didn’t have a gilt-edged resume or family wealth, but that never stopped me from dreaming big.

Girish Mathrubootham of Freshworks

To me, Together is not just a fund, it is a way to pay it forward to the startup community that gave me so much. It is a natural progression of the ‘pay it forward’ initiatives we started with community programs such as PNGrowth, SaaSx, and SaaSBOOMi. With Together, we are not just offering capital to founders, we are offering our time and counsel as well.

Girish Mathrubootham of Freshworks

In an interview, Mr. Raghava said that Together Fund’s founding team would continue to be involved in other industry efforts, such as SaaSBOOMi, India’s annual flagship conference for SaaS companies.

The CapTable, a news organization in India, initially reported on the fund’s establishment earlier this year, citing an investor who stated that Together is expected to attract all strong SaaS projects because of its founding team and problem statement.

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