Early-stage venture capital firm Triton has secured the first close of its second fund at INR 120 crore, targeting a total corpus of INR 240 crore ($28 million). The Mumbai-based firm, which specializes in B2B Tech and tech-enabled services, aims to foster innovation and support high-potential startups in India’s dynamic technology sector.

Triton’s first fund successfully backed startups across Enterprise SaaS, AI, B2B marketplaces, and marketing services, delivering strong returns and bolstering investor confidence. With Fund I nearing full deployment, Triton is set to build on its success with Fund II, which will focus on pre-Series A and Series A investments, ranging from INR 8–16 crore per company.

Expressing confidence in the fund’s potential, Managing Partner Pradyumna Dalmia stated, “Triton Fund II reinforces our commitment to advancing B2B Tech innovation and supporting transformative startups in India. The strong performance of Fund I positions us well to create significant value for investors and portfolio companies alike.”

Partner Dev Raman highlighted the changing investment landscape, noting that with the market moving past the funding boom, high-quality founders are now adopting a more disciplined approach to capital. “This shift is fostering a new generation of startups with solid economic foundations. Triton is committed to providing patient capital and strategic support to help these businesses scale,” he said.

Continuing its core focus on B2B Tech, Triton Fund II will invest in sectors such as Enterprise SaaS, SMB Tech, Agentic AI, DeepTech, and Tech-enabled Services. With a strong track record and a 100% success rate across its portfolio, Triton remains a key player in India’s early-stage investment landscape.