Homegrown enterprise capital (VC) firm IvyCap Ventures stated on Tuesday it has closed its ’Fund III’ at Rs 2,100 crore, taking its whole property underneath administration (AUM) to Rs 5,000 crore.
The ’Fund III’ plans to put money into about 25 corporations at Collection A stage, with a mean beginning funding price Rs 30–50 crore. IvyCap Ventures stated in a press release that about 20 per cent of the fund will likely be invested within the present portfolio corporations, the place it’s going to act as a co-investor when these corporations 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 corporations, collaborating with companions corresponding to IITs, IIMs, incubation centres, accelerators, corporates and different platforms. The Fund’s buyers (restricted companions) embody main Indian establishments, the IIT Alumni Belief, and some household workplaces.
”Now we have at all times believed within the potential of home capital and really feel lucky for the invaluable backing of India’s main institutional buyers throughout all funds,” stated Vikram Gupta, Founder and Managing Companion, IvyCap Ventures. Presently, round 40 per cent of the corpus has already been invested in numerous corporations, 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 corporations like LendBox, Miko, Biryani By Kilo, BlueStone, and others. Over time, IvyCapVentures has constructed a various portfolio of roughly 50 corporations throughout sectors