The second fund of Good Capital, an early-stage venture capital firm that has invested in some of India's top startups, such as Meesho, Orange Health, and LEAD School, has closed at $30 million (roughly Rs 260 crore).

Key Highlights

• Good Capital's $30 million Fund II focuses on AI-driven startups, with investments in Rio, Xhipment, and Nuuk.
• The fund secured commitments primarily from family offices across Asia and Europe, aiming to support 25–30 startups. 

With a target corpus of $35 million, the new fund was introduced in 2023 and has primarily received commitments from family offices in Asia and Europe. With this closing, Good Capital hopes to strengthen its approach to assisting cutting-edge, tech-first startups, with an emphasis on those powered by artificial intelligence.

Fund 2.0-backed startups include Rio, which is revolutionizing healthcare access through WhatsApp-based instant pharmacy delivery; MyGenie, which uses AI to automate fit-out execution; Xhipment, a digital freight forwarding platform that makes international trade easier for exporters; Xneeti, which helps Indian sellers expand internationally with tech-first export tools; and Nuuk, a domestic consumer appliance brand renowned for its eco-friendly, minimalist design.

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With Fund 2.0, we put even more emphasis on founders with strong convictions who tackle challenging, real-world issues with purpose, clarity, and in-depth knowledge of user behavior. This stage has strengthened our conviction that the convergence of AI, infrastructure, and international aspirations will yield India's next generation of breakthrough businesses," stated Arjun Malhotra, General Partner at Good Capital.

Good Capital is an early-stage venture capital firm that was founded in 2019 with the goal of funding seed to early-stage businesses that are influencing consumer experiences and technology. The VC firm invested approximately $44 million (including LP co-investments) in 30 startups after launching its first $15 million fund in 2019.