Iron Pillar, a venture growth investor that backs technology companies in India, is in talks to raise about $400 million for its second fund as it looks to ramp up investments in the burgeoning startup ecosystem in the country.
According to multiple sources privy to the development, talks between the venture capitalist and limited partners (LPs) —industry parlance for endowments, pension funds, and other institutional investors that allocate capital to VCs — are at an advanced stage.