Mumbai-based venture capital firm Triton is making waves with the announcement of the first close of its second fund, Triton Fund II. Raising an impressive ₹120 crore so far, the firm is aiming to grow the fund to ₹240 crore ($28 million)—a significant leap from the size of its first fund. Here’s everything you need to know about Triton’s new venture and how it plans to back the next generation of innovative B2B tech startups.
Triton Fund II: A Game Changer for B2B Tech Startups
Triton has always been focused on early-stage investments in B2B (business-to-business) tech and tech-enabled services. With its second fund, the firm is doubling down on this strategy, aiming to provide capital and support to high-growth startups in these sectors. Triton has already made a name for itself by investing in companies like Recykal, ZingHR, CamCom, and Bizom—just a glimpse of the kind of startups they’re backing.
“Triton Fund II represents our commitment to driving innovation within the B2B tech space. We are building on the success of Fund I, and we are excited about the future as we continue to support companies transforming the tech landscape in India,” said Pradyumna Dalmia, Managing Partner at Triton.
The second fund will focus on sectors like enterprise SaaS, AI, agentic AI, deep tech, and tech-enabled services—fields that are showing immense potential for growth and innovation. Fund II will target startups in the pre-Series A and Series A rounds, offering initial investments ranging from ₹8 crore to ₹16 crore per company.
Triton Fund I: A Foundation for Success
Triton’s first fund, which focused on enterprise SaaS, AI, B2B marketplaces, and marketing services, has been a big success. With strong returns and growing confidence from investors, the firm is in a great position to expand its vision with Fund II. Fund I not only delivered financial success but also built a strong track record for the firm, proving that their investment strategy works.
As Fund I nears its completion, Triton has demonstrated that its approach to backing high-potential B2B tech companies is paying off. This track record of success gives investors confidence that Fund II will continue to deliver solid results.
“Triton Fund II reflects our dedication to driving innovation in B2B Tech and supporting the next generation of transformative companies in India. With the strong performance of Fund I, we are well-positioned to build on our success and create significant value for both our investors and portfolio companies,” said Pradyumna Dalmia.
What Makes Triton Fund II Unique?
One of the biggest selling points of Triton Fund II is its commitment to providing patient capital and strategic support to startups. Unlike some investors who rush companies into growth at all costs, Triton takes a more measured approach. The firm aims to partner with founders who are focused on building strong, sustainable businesses.
“We are seeing high-quality founders adopting a more prudent approach to capital,” said Dev Raman, Partner at Triton. “We believe this will lead to a new wave of companies with solid economic foundations. At Triton, we aim to provide the right mix of capital and strategic support to help businesses scale effectively and sustainably.”
This approach is increasingly popular, especially after a period of excessive funding and high valuations that led to the “funding euphoria” in the startup world. By focusing on the fundamentals and long-term growth, Triton is positioning itself to take advantage of the next wave of sustainable innovation.
Why B2B Tech?
Triton has always been a champion of B2B tech companies, and Fund II will continue this focus. The firm recognizes the tremendous potential in the B2B tech space, where companies are providing cutting-edge solutions to businesses across industries. This sector includes everything from software as a service (SaaS) platforms to deep tech innovations like AI and agentic AI, which are shaping the future of industries worldwide.
As businesses continue to embrace digital transformation, the demand for B2B tech solutions is growing rapidly. Triton’s investments are aimed at companies that can leverage this shift and provide scalable solutions to businesses, which often have more stable and long-term revenue streams compared to B2C models.
The Focus Areas for Fund II
With Fund II, Triton is setting its sights on several high-growth areas in B2B tech:
- Enterprise SaaS: Software solutions designed to help businesses manage their operations more efficiently.
- SMB Tech: Technologies that cater to small and medium-sized businesses, helping them scale and compete with larger enterprises.
- Agentic AI: AI technologies that enable machines to perform tasks independently, enhancing productivity and efficiency.
- Deep Tech: Advanced technologies like machine learning, blockchain, and other cutting-edge innovations that have the potential to disrupt industries.
- Tech-enabled Services: Businesses that leverage technology to improve traditional service models, creating new business opportunities.
By focusing on these high-potential sectors, Triton Fund II is positioning itself to back the most transformative startups in India’s tech ecosystem.
Looking Ahead: The Future of Triton Fund II
As Triton continues to raise funds for its second venture, the firm is focused on building lasting partnerships with founders who have the vision and determination to change the future of technology. With a more strategic, patient approach to capital and a focus on high-growth B2B tech companies, Fund II is set to play a key role in shaping India’s startup landscape.
“Triton is more than just a venture capital firm. We are a partner in growth,” said Pradyumna Dalmia. “Our mission is to help entrepreneurs bring their innovative ideas to life while building sustainable businesses that deliver long-term value for all stakeholders.”
With Triton’s proven track record, its emphasis on patient capital, and its commitment to driving innovation, the future of B2B tech in India looks bright. We can expect to see more groundbreaking startups emerge from the firm’s support, as they continue to back the next wave of tech innovators.
