In a bold step to deepen ties between Indian and US startup ecosystems, BAT VC—a venture capital firm co-founded by former X (Twitter) India head Manish Maheshwari—has announced a $100 million Fund II to back AI-first early-stage startups.
The fund, spearheaded by Maheshwari alongside Aditya Mishra and Ravi Metta, marks BAT VC’s official foray into the Indian market. Fund II will focus on startups in AI, fintech, and SaaS, operating across both India and the US.
According to BAT VC, this fund has already piqued the interest of “top-tier” institutional LPs, family offices, and strategic investors across both geographies. Its clear thesis: invest in companies before product-market fit (PMF) and support founders with internal playbooks, access to customers, capital, and cross-border talent.
What sets BAT VC apart is its dual-market lens. The firm notes that Indo-US startups raise more capital and SaaS companies operating in both markets see 1.8X higher median revenue growth than single-region peers.
Founded in 2021, BAT VC positions itself as a cross-border VC firm investing in AI-native startups. Its first fund, launched in 2022, boasts an IRR of 30% and MOIC of 1.61X. Portfolio companies like StockGro, Uptiq AI, and Nickelytics have reportedly achieved average revenue growth of 210% in 18 months.
As Maheshwari takes charge of India expansion, the VC firm is doubling down on its belief that AI is not just a tool—but a business model. For Indian founders building global-first products, BAT VC is betting big—and early.
