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Tech-focused Indian investor Iron Pillar in talks to raise $400m

Venture capital firm looking to boost investment in nation's startup ecosystem

India's Iron Pillar is raising cash as it sees big global opportunities for startups built in India. (Source photos by Iron Pillar website and Kosaku Mimura)

NEW DELHI -- 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 investment in the country's burgeoning startup ecosystem.

According to multiple sources with knowledge of the development, talks between the venture capitalist and limited partners (LPs) -- an industry term for endowments, pension funds and other institutional investors that allocate capital to VCs -- are at an advanced stage.

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