HomeUSAGaruda Ventures Raises $31M for Maiden Institutional Fund

Garuda Ventures Raises $31M for Maiden Institutional Fund

Garuda Ventures, a Bay Area-based early stage venture capital firm, raised $31M for its debut institutional fund.

LPs include:

  • Cliff Obrecht, Co-Founder and COO, Canva¬†
  • Frederic Kerrest, Vice Chairman & Co-Founder, Okta 
  • Osama Bedier, President, GoDaddy Commerce
  • Howard Lindzon, Co-founder and General Partner, Social Leverage

Started in 2018 as a $3M “proof of concept” before becoming a full-time endeavor in 2021 by Rishi Taparia and Arpan Punyani, Garuda Ventures is a B2B-focused pre-seed and seed firm focused on four core areas:

  • Intelligent Applications: Vertical SaaS, AI-enhanced applications, API-driven middleware
  • Commerce Infrastructure: Catering to the modern buyer, unlocking access and liquidity, serving the ‘next billion’
  • The New Perimeter: Cloud-native security, compliance at data-scale, Programmable infrastructure
  • Climate 2.0: Digitization of the energy markets, code to manage the grid, tech for the low-carbon transition

The Founders

Rishi Taparia was an early employee and operator at Poynt, a payments processor that was acquired by GoDaddy for $365M in 2020, and Legion, an industry-leading workforce management platform. Previously, he worked as an investor at Matrix Partners, where he sourced the firm’s seed investment in Canva, most recently valued at $39B.¬†

Arpan Punyani spent over 8 years at identity-management company Okta, where he helped grow the company from around 200 employees in 2013 to its 2017 IPO and $40B+ market cap in 2021. He worked across the inorganic growth teams, focused on M&A and strategic partnerships, leading to $6.8B+ in M&A.

VCWire

30/10/2023