Iron Pillar has closed a $129 million cross-border fund. The fund invests in SaaS start-ups that are developing cyber security and governance tools, DevOps tools, future of work and education solutions, and automation solutions with global market potential.
Venture capital fund for early-stage companies Iron Pillar has closed a dedicated growth-stage fund that will focus solely on Software-as-a-Service (SaaS) start-ups. The $129 million fund will invest in SaaS start-ups that are developing cyber security and governance, DevOps tools, the future of work and education, and automation solutions with global market potential.
The fund will invest in firms with $5-$10 million in annual recurring revenue and a worldwide presence. This fund is part of the Iron Pillar Fund II series of funds and saw participation from established institutional investors from the United States, Europe, and the Middle East, as well as two endowments and a foundation.
With each fund, Iron Pillar generally constructs a focused portfolio of eight start-ups. Since its inception in 2016, the fund has funded a number of global cloud software firms based in India, including Uniphore, Servify, CoreStack, Ushur, Jiffy, Sibros, and Pando, as well as a number of business-to-consumer start-ups including FreshToHome, BlueStone, and Curefoods. The VC business presently manages over $500 million in assets (AUM).
Iron Pillar often makes Series B and C investments and eventually doubles down on breakout enterprises with 5x to 10x of its initial investment using monies pooled in from its parallel vehicles.
Iron Pillar’s portfolio firms benefit from the firm’s worldwide network, which assists with company growth, go-to-market strategy, recruiting, and strategic collaborations, in addition to money.
