Hyderabad-based early-stage venture capital firm Endiya Partners is looking to raise ₹500 crore for its Fund-II. The firm currently invests in product startups from its ₹200 crore Fund-I.
With the latest fund, Endiya Partners plans to boost follow-on investments across its portfolio companies, along with expanding focus on life sciences sector, according to Sateesh Andra, Managing Director, Endiya Partners.
The new ₹500 crore fund will make it the largest fund specialising in intellectual product-based startups in India.
Endiya Partners was founded by Sateesh Andra, Dr Ramesh Byrapananei, and Abhishek Srivastava. The firm invests in startups working in technology, consumer, and healthcare sector, focusing on early to series A stage. It also participates in follow-on investments.
The firm expects to finish mobilising its ₹500 crore fund by March. With the new fund, Endiya Partners will invest around ₹30-40 crore each across most of its portfolio companies. It is also looking to strengthen its team and set up an office in Bengaluru by March.
Some of its notable investments from Fund-I include Curefit, SigTuple, Darwinbox, Alphaics Corporation, InnerChef, and Slang Labs, among others.
Completing a funding cycle and returning capital to the investors in a venture capital fund is beginning to happen in India, said Andra, adding, “Top-performing VC funds globally generate 15-20% internal rate of return (IRR). We hope our funds will be in the top quartile.”
Earlier this month, Shunwei Capital closed its sixth global fund at ₹8,800 crore, with India among its focus countries. Also, Sixth Sense Ventures closed its second fund at ₹500 crore, doubling its initial target set at ₹250 crore, with a greenshoe option of an additional ₹100 crore.
Indian startup ecosystem is buzzing with both domestic and international venture capital firms, strengthening the ecosystem.
Now with the improvement in India’s ease of doing business ranking, the pace of investments is expected to pick up. So far, the Indian startup ecosystem has raised ₹31,5000 crore in funding in 2018, according to a NASSCOM report.