• BAT VCThe second fund targets $100 million for AI, fintech and corporate startups in the U.S. and Indian markets

• The company's first $8.2 million fund received 29% IRR and received two successful exports

• BAT VC aims to leverage India’s growing technology ecosystem and the strategic importance of collaboration among US-Indian startups

According to a report from Business Insider India, BAT VC, a New York-based early-stage venture capital firm, is raising $100 million for its second fund to invest in AI startups that operate in the U.S. and India.

BAT VC, a team of Indian tech veterans, has launched its second car after experience at major tech companies including Yahoo and Twitter India, after it described as the first fund of success. The company said its initial $8.2 million fund provided early returns with two exports and an internal rate of return of 29%.

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The II Fund will focus on startups operating at the intersection of AI, Fintech and Enterprise Technology. The company reportedly has a check range of $3 million to $5 million and is currently in talks with institutional investors, home offices and high net worth individuals.

BAT VC is developing its strategy around the growing trend between the US and India’s tech ecosystems. India has over 159,000 government-accredited startups and a rapidly growing pool of technical talent is increasingly seen as a destination for innovation and production. Meanwhile, the United States remains the world's largest enterprise software market, making it a natural expansion destination.

The company’s model is built on capital efficiency – building high-value products in India and bringing them to global markets through U.S.-based distribution and sales channels. This cross-border approach allows startups to build capital-efficient products in India while leveraging U.S. sales networks and customer relationships. The strategy reflects the success of Freshworks Inc (NASDAQ: FRSH), which has targeted global customers early on from Chennai to Nasdaq IPO.

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BAT VC's new fund will prioritize the application of AI to startups in specific industries such as healthcare, manufacturing and logistics rather than horizontal platforms. The company also believes that the U.S.-India enterprise software market has great potential, which it believes could exceed the size of the U.S.-Israel technology corridor.