Touring Capital, a San Francisco, CA-based venture capital firm focused on investing in the next generation of early-growth stage, AI-powered SaaS startups around the world, has officially launched.
Founding partners include Nagraj Kashyap, Priya Saiprasad, and Samir Kumar, who previously led M12, Microsoft’s Venture Fund, and Qualcomm Ventures, and have been in leadership roles at SoftBank Vision Fund II, respectively. Kashyap, Kumar, and Saiprasad have collectively invested in 16 unicorns and led 26 exited investments.
Touring Capital is backed by institutional firms and family offices, as well as more than 20 former founders who previously worked with Touring Capital’s leadership.
The firm aims to source deals in and outside of Silicon Valley and will be searching from coast to coast to identify founders. In addition to sourcing deals from across North America, the firm will focus on emerging software ecosystems including India, Australia, Israel and Europe. The firm’s debut fund will focus on investing in Series B and Series C rounds of category-defining SaaS companies powered by AI.
To this end, Touring Capital is partnering with Oakley Capital, an investment firm with $10 billion under management, to build a new venture capital platform. The platform will offer decades of experience spanning market cycles, a tried-and-tested network across the global technology ecosystem, and a hands-on approach to value creation for portfolio companies.
The team has already made its first investment by leading the latest financing round in Pixis, an AI-powered software for digital marketers.
Commenting on the launch, Nagraj Kashyap said: “While we’re a first-time fund, we’re not a first-time team. Our partners bring more than sixty years of experience investing in best-in-class software unicorns including Zoom, Kahoot, Livongo, Outreach, Applied Intuition, Innovaccer, and Go1. Our deep, cross-generational industry expertise uniquely positions us to support entrepreneurs from a variety of backgrounds and equip them with a network of global relationships that extend beyond Silicon Valley and the U.S. We are committed to partnering with exceptional founders that are reshaping the software landscape through AI and supercharging their growth for long-term success.”