Basis Vectors launches $50m fund for SaaS investments
Basis Vectors, a US-headquartered investment firm established by the Indian founder of a VC-backed start-up, has raised a $50 million fund that will acquire and develop software-as-a-service (SaaS) companies.
Dubai-based Cianna Capital is the lead investor of the new fund while capital had also been sourced from family offices, according to a statement. Basis Vectors was founded at the start of 2019. It is expected to target SaaS companies with an Asian base for back-office operations.
Founders of the firm include Ambarish Gupta, the former CEO of Indian cloud telephony solutions provider Knowlarity, and Upmanyu Misra, a venture capital managing partner at Cianna. Knowlarity develops cloud-based communication products for enterprises, such as interactive voice response technology integrated into their IT systems. The company counts Sequoia Capital India as an investor and is headquartered in Gurgaon in India.
Basis Vectors is looking for companies that produce between $1-10 million in annual revenue. It will help them optimize costs and explore organic and inorganic growth. The firm said it may even remain invested in companies for more than a decade.
“We are not looking to buy superstar businesses for a quick flip or to provide predatory debt lines. Instead, we stand shoulder to shoulder with the management of high potential companies by taking over some of the day-to-day operations and scale strategies. Believing that investing in long-term growth is more strategic, the firm applies a value investment, buy-and-hold mindset regarding wholesale investments,” said Gupta.
Other GPs that invest in SaaS companies targeting the US market, often with an Indian or Southeast Asia base for back-office operations, include Iron Pillar, ChrysCapital, B Capital, Openspace, Eight Roads Ventures, and Sequoia Capital India.
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