NEW DELHI: Homegrown enterprise capital (VC) firm IvyCap Ventures on Tuesday mentioned it has closed its ‘Fund III’ at Rs 2,100 crore, taking its whole belongings underneath administration (AUM) to Rs 5,000 crore.
The ‘Fund III’ plans to put money into about 25 firms at Collection A degree, with a mean beginning funding price Rs 30-50 crore.
IvyCap Ventures mentioned in an announcement that about 20 per cent of the Fund will likely be invested within the present portfolio firms, the place it should act as a co-investor when these firms are elevating their subsequent rounds, and won’t present secondary funding to their earlier funds.
Moreover, Rs 100 crore has been earmarked for funding in seed-stage firms, collaborating with companions equivalent to IITs, IIMs, incubation centres, accelerators, corporates and different platforms.
The Fund’s buyers (restricted companions) embody the main Indian establishments, the IIT Alumni Belief and some household places of work.
“We have now all the time believed within the potential of home capital and really feel lucky for the invaluable backing of India’s main institutional buyers throughout all funds,” mentioned Vikram Gupta, Founder and Managing Accomplice, IvyCap Ventures.
At the moment, round 40 per cent of the corpus has already been invested in numerous firms, together with Celcius, Agraga, Eggoz, ZestIot, Snitch, GradRight, Flexifyme, Beatoven.ai, and Dhruva Area.
Furthermore, the Fund has made follow-on investments from its earlier fund in firms like LendBox, Miko, Biryani By Kilo, BlueStone, and others.
Over time, IvyCapVentures has constructed a various portfolio of roughly 50 firms throughout sectors.
