VC firms like Iron Pillar, Zodius and B-Capital eye mid-stage deals

With hedge funds keeping away, there are few investors willing to lead Series-B/C rounds

A Mumbai-based software firm is raising $20 million in Series-B funding. Its existing investors are willing to chip in $5 million and it has identified three investors who are willing to bring in $4-5 million. The problem is it is unable to find an investor who can lead the Series-B round. 

This is a common issue being faced by start-ups looking to raise a Series-B or Series-C round of fundings. With hedge funds, who were active in this space in 2014-15, no longer investing in India, there are few investors willing to lead rounds in Series-B/C of Indian start-ups. 

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