Tenacity Ventures eyes big 2nd fund as IPOs beckon

About 80-85% of the first fund has been deployed across 15 cos and the second fund process will begin in coming months

- Priyamvada C & Sneha Shah

Tenacity Ventures, backed by founders of Dream11, is gearing up to launch a $150 million second fund even as several companies from its debut portfolio move closer to public market listings, the firm's top executives told Mint.

"While companies like Purplle, Headout, Tonbo Imaging and Exotel are already IPO ready, others, including IDfy, Toddle, Seclore, Clear, Videonetics, and Qnu Labs, will certainly have the scale to explore options for a listing over a three-year timeframe," Tenacity's managing directors Rohit Razdan and Gourav Bhattacharya told Mint in a joint interview. They did not disclose if they plan to sell stakes in the IPOs.