U.S.- and India-focused venture capital fund manager SRI Capital has reportedly reached a first close for SRI Capital Fund I with US$40 million in capital commitments. Investors in the fund include the family office of SRI Capital founder Sashi Reddi, which contributed US$20 million, and U.S.-based individuals. The fund, which is targeting US$100 million in total commitments, will make early-stage investments in enterprise software and technology companies in the United States and India.