Bessemer Venture Partners, an early backer of Swiggy , has raised $350 million for an India-focused fund to invest in AI-enabled businesses, fintechs and direct-to-consumer brands among others, the company said in a statement on Wednesday.

India's venture capital market rebounded in 2024, hitting US$13.7 billion in funding, led by rapid growth in the quick commerce sector.

Bessemer Venture Partners secured $350 million for its second India-focused fund, aiming to support early-stage startups in AI-driven services, cybersecurity, digital health, and fintech. They foresee the Indian internet economy reaching $1 trillion and view this as an optimal time to invest,

The new fund underscores Bessemer's long-standing presence in India, where it has been investing since 2006, and aims to support emerging companies from their early stages through subsequent growth ph