The founders of the 100x Entrepreneur podcast, Siddhartha Ahluwalia and Nansi Mishra, have launched a fund with a goal of raising USD 25 million (about Rs 200 crore) to invest in early-stage firms.
The Neon fund will invest in business-to-business software-as-a-service (SaaS) firms, assisting them to reach more than USD 10 million in annual revenue run rate within five years, according to the firm.
Ahluwalia and Mishra started the 100x Entrepreneur podcast in 2018 interviewing founders and investors. It rebranded to ‘Neon’ this year. The fund’s limited partners include prominent names like Blume Founders Fund, Sandeep Singhal of Nexus Venture Partners, and founders like Pallav Nadhani of Fusion Charts, Varun Shoor of Kayako, Paras Chopra of Wingify, Kiran Darisi, who previously worked Freshworks, and Kshitij Jain of Mobolt.
The new fund follows the firm’s USD 10 million 100x Entrepreneur fund, which debuted in 2020. Its portfolio includes Airmeet, a virtual summit platform, Affable.ai, an influencer management platform, Plum, an employee benefits platform, and ElevateHQ, a sales software supplier. According to its website, it has made approximately 35 early-stage investments.