Garuda Ventures, an emerging venture capital manager, has successfully closed its debut fund with commitments of $31 million to invest in B2B-focused software companies. The firm’s general partners, Rishi Taparia and Arpan Punyani, bring extensive experience in scaling businesses from their prior roles. Taparia previously worked at Poynt, a payments processor acquired by GoDaddy in 2020, as well as workforce management platform Legion. He also served as an investor at Matrix Partners before founding Canva with a seed investment. Punyani spent over eight years at identity management company Okta, where he focused on M&A and strategic partnerships, leading the company’s growth from approximately 200 employees in 2013 to its IPO in 2017.
In late 2021, after raising $2.8 million for a ‘proof of concept’ fund and investing in 32 companies, Taparia and Punyani officially launched Garuda Ventures. The pair began soliciting investors for their debut fund three months later, and they successfully concluded the fundraising process.
Our primary lens to partnering with founders is that we are building ourselves, and we will remain here for a long time because we are building a franchise, Taparia told TechCrunch. Our goal is to be the first choice for B2B growth-stage companies.
Garuda Ventures: A New Player in the B2B Venture Capital Space
Since its founding, Garuda Ventures has positioned itself as a strategic partner for businesses operating in niche market segments with high growth potential but limited access to capital. The firm’s focus is on software solutions that drive business transformation and scalability across industries such as healthcare, education, and enterprise services.
Key investment themes include:
-
AI-Driven Business Solutions: Garuda Ventures has made significant investments in companies leveraging artificial intelligence to optimize operational efficiency, personalize customer experiences, and enhance decision-making processes.
-
Cloud-Native Software Platforms: The firm is also a pioneer in supporting businesses adopting cloud computing technologies for scalability and cost optimization.
-
B2B SaaS Platforms: Garuda Ventures has invested in SaaS platforms that provide tailored tools to address specific business challenges, such as supply chain management, customer relationship management (CRM), and project management.
Notable Investments
-
Canva: With its seed investment of $5 million, Canva emerged as one of the first successful exits for Garuda Ventures. The company specializes in visual collaboration tools that enable teams to work together in real time, making it a leading platform for knowledge-sharing and project management.
-
AI-Powered Platforms: Garuda Ventures has invested in several AI-driven platforms aimed at improving operational efficiency across industries. One notable example is AI-Driven Insight (ADI), which provides predictive analytics solutions for businesses seeking to gain actionable insights from their data.
-
Cloud-Native Solutions: The firm has also made strategic investments in cloud-native platforms that enable businesses to migrate and optimize their infrastructure with minimal disruption. One such company is Scalable Cloud Systems (SCS), which specializes in enterprise-grade cloud storage solutions for small and medium-sized businesses.
The Vision of Rishi Taparia and Arpan Punyani
Rishi Taparia’s background in scaling businesses gives him a deep understanding of the challenges faced by early-stage companies. His prior roles at Poynt and Legion provided him with firsthand experience managing high-growth organizations, which has informed his approach to identifying undervalued opportunities in niche market segments.
Arpan Punyani brings a unique perspective as an ex-employee of Okta, where he gained insights into the complexities of managing large-scale M&A transactions. His deep knowledge of corporate strategy and deal-making positions him well to identify deals with high potential for transformational outcomes.
The Future of Garuda Ventures
Garuda Ventures aims to expand its impact by continuing to partner with visionary entrepreneurs who share a commitment to innovation and sustainability. The firm’s focus on B2B growth-stage companies aligns with the evolving needs of businesses seeking digital transformation and operational excellence.
With its current pipeline of investments, Garuda Ventures is well-positioned to play a leading role in shaping the future of business software solutions across industries. For more information about the firm and its investment strategies, visit www.garudaveriants.com.
Note: This article is part of a series on venture capital and startup ecosystems. For updates on the latest trends in B2B technology and innovation, follow our news hub at TechCrunch Tech.