Avataar Venture Partners to invest $300 mn in B2B, SaaS startups

Avataar Venture Partners announced a $300 million fund to invest in business-to-business and software-as-a-service startups. The fund was founded by Mohan Kumar, ex-partner with Norwest Venture Partners and Nishant Rao, ex-COO at Freshworks. Backed by US-based HarbourVest Partners, Avataar will invest $10 million-$30 million in startups that have at least $15 million in annual recurring revenues.