Together Fund

Overview

Together Fund is an early-stage venture capital firm committed to empowering software-as-a-service (SaaS) entrepreneurs, particularly in India. Founded in 2021 by Girish Mathrubootham of Freshworks, Manav Garg of Eka Software, and other industry veterans, the firm is headquartered in Bengaluru, India. It aims to support startups with more than just capital; its initiatives also include community building and operational support. Its second fund, with a corpus of $150 million, focuses on the SaaS and artificial intelligence (AI) sectors, further showcasing its dedication to nurturing technological innovation.

Recent Developments

• September 2024: Together Fund announced the appointment of Lakshmi Shankar, a former Google executive, as a General Partner. His role aims to enhance the firm's US-India strategic initiatives.
• August 2024: The fund expanded its focus to include AI startups, with specific investments in health care, developer infrastructure, and modern marketing technologies.
• July 2024: Together Fund disclosed the first close of its second fund, which has a targeted corpus of $150 million. This initiative was announced as part of its strategy to bolster the SaaS and AI landscapes further.
• Early 2024: The firm began investments from its $150 million corpus targeting the first quarter of 2024. This move comes amidst a challenging macroeconomic environment but underscores the potential seen in AI and SaaS sectors.
• July 2023: The firm reported successful investments from its initial $85 million fund with a focus on horizontal application areas like recruitment and marketing, alongside vertical SaaS.

Company Information

Attribute	Information
Founding Date	2021
Headquarters	Bengaluru, India
Founders	Girish Mathrubootham, Manav Garg
Revenue	Not publicly disclosed
Profits	Not publicly disclosed
Key Investors	Co-founders include industry veterans
Industry	Venture Capital, SaaS, AI
Number of Employees	Not publicly disclosed

Early History

Together Fund emerged from a vision shared by successful entrepreneurs and operators like Girish Mathrubootham and Manav Garg. It was one of India's first operator-led venture capital initiatives, aiming to break traditional barriers in the venture funding landscape. The fund's emphasis on SaaS stemmed from its founders' expertise and the burgeoning potential for software innovation in global markets. From its nascent stage in 2021, Together Fund raised $85 million, targeting early-stage startups with pioneering product ideas and a strong inclination towards global scalability.

Company Profile and Achievements

Together Fund specializes in early-stage venture capital investments, primarily targeting SaaS and AI startups. Its commitment has seen pivotal investments in about 25 startups from its initial corpus, focusing on innovative solutions across various application domains. Key achievements include:

• Early Investments: Established presence in horizontal and vertical SaaS areas, impacting sectors such as recruitment, health, and marketing.
• Strategic Growth Initiatives: The launch of a second fund marked a major milestone, aimed at propelling AI and SaaS companies with institutional backing.
• Community and Support: Beyond funding, Together Fund leverages its founders' operational expertise to provide startups with strategic guidance, operational support, and networking opportunities.
• Global Reach: Building a US-India venture bridge through strategic advisory and partner placement.

Current Operations and Market Position

Together Fund is positioned as a key player in India’s venture capital scene, particularly for SaaS and AI innovations. Its strategic operations emphasize:

• Innovative Investments: Continuously investing in and nurturing startups that align with global tech and market trends.
• Market Position: As a pioneer operator-led fund, it maintains a robust stance against traditional investment models by offering experiential insights and operational mentorship alongside capital.
• Strategic Partnering: Collaborates with global tech ecosystems, enhancing cross-border synergies particularly between US and Indian markets.

Conclusion

Together Fund stands out for its unique operator-led approach, combining extensive industry experience with strategic investments focused on the burgeoning realms of SaaS and AI. With a successfully launched second fund, it appears well-placed to significantly influence the tech startup space in India, facilitating innovations that resonate on a global scale. As of November 2024, the firm has laid firm foundations for continued influence and support within the entrepreneurial ecosystem, heralding potential future growth and establishing itself as a pivotal force in venture capital.