The $100-million second fund floated by SRI Capital, founded by serial entrepreneur Sashi Reddi, has kick started its funding activity by ‘writing cheques’ for five start-ups in the last few weeks.

On Tuesday, it announced an investment of $2 million in the Singapore-based Foyr, with a development centre in Hyderabad, which makes software solution for interior designers, architects and property developers.

Besides SRI Capital, JLL and other investors invested $2.2 million to join the Series A round in the start-up.

The investment firm is targeting enterprise software start-ups that eye the US market and those operating in the consumer space in India.

“We are looking at firms like Foyr, which target the potential in the US market,” said Sashi Reddi.

According to him, there’s an acute shortage for venture capital to fuel growth of early stage start-ups.

“Bengaluru is better off with a good ecosystem. We will be focussing on New Delhi and Hyderabad where we found the VC presence is less,” he said.

“We see a good presence of start-ups in Delhi and Hyderabad but with no money flowing into them,” he pointed out.

Sashi Reddy set up the ₹100-crore SRI Capital after he sold testing tools services company AppLabs to CSC.

“We have surpassed the ₹100-crore mark and invested in 30 start-ups,” he said.

“After gaining experience in investing in ventures with my own money, I have decided to float the second fund with $100 million. I have become the anchor investor with $20 million,” he said.

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