Chennai-Based Peaceful Progress Fund Eyes Innovation with INR 50 Cr First Close The fund plans to invest in 25+ startups over three years, focusing on AI, IoT, FMCG, EVs, drones, and spacetech across tech and non-tech sectors.
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Chennai-based SEBI-registered CAT-I Alternative Investment Fund (AIF), Peaceful Progress Fund, has successfully closed its first fund at INR 50 crore.
The fund, dedicated to co-investing in early-stage businesses across tech-enabled, consumer goods, and mobility segments, has already backed 22 startups. Notable investments include Zypp Electric, Garuda Aerospace, Bombay Shaving Company, Revamp Moto, Lissun, and Liger Mobility.
"The successful close of the Peaceful Progress Fund marks a key milestone for us. It reaffirms our commitment to empowering startups that redefine industries and tackle critical challenges. Our rigorous evaluation process and expert-driven strategy ensure every investment creates sustainable and innovative solutions," the General Partners stated.
The fund's leadership includes General Partners Srinivasan Arunachalam, Kamal Agarwal, Sitaraman Parthasarathy, and Chandrashekar Kupperi, alongside Venture Partners Govindarajan Srinivasan and Viswanath Ganapathy.
Looking ahead, the fund plans to invest in over 25 additional startups over the next three years. Its tech-enabled focus spans AI, ML, IoT, VR, and MR, while in non-tech, it emphasises FMCG startups operating on B2B, B2B2C, B2C, and D2C models. The mobility sector focus includes electric vehicles, drones, and spacetech.
With a strong investment pipeline, Peaceful Progress Fund aims to foster innovation and growth in India's dynamic startup ecosystem.
