Fri. Mar 29th, 2024
Inventus Capital marks first close of its third fund at ₹200 croresInventus Capital marks first close of its third fund at ₹200 crores

Inventus Capital Partners, an early-stage venture capital firm, has made the first close of its third fund at ₹200 crores ($29 million). The firm has set a target of ₹325 crores for the fund, capping it at ₹400 crores. This fund will be used to invest in capital-efficient startups in the business-to-business and business-to-consumer domains.

Rutvik Doshi, managing director at Inventus Capital said, “Our strategy is to look at tech-focused companies with a strong filter on capital efficiency for predominantly Series-A deals.”.

It raised its first fund of $51 million in 2009 and second fund was closed with commitments of $106 million in January 2014. Both these funds were focussed on US and India.

Inventus Capital Partners is a silicon-valley based venture capital firm, it was founded by Kanwal Rekhi, John Dougery and Samir Kumar in 2007. It has successfully backed startups like Poshmark, Credit Sesame, Sierra Atlantic in silicon valley, along with redBus, PolicyBazaar and PowertoSME in India.

It is reported that around 65% of the third fund is domestic capital. There has been significant involvement from the Small Industries Development Bank Of India (SIDBI) through the central governments Fund of Funds.

Samir Kumar, managing director at Inventus Capital said“The big thing that has happened while we were in the market to raise money for this fund is the availability of domestic capital, which will be a big changer for the venture capital market for the next 30-40 years. And the emergence of our track record with respect to cash returns has also helped us gain confidence during this raise,”.

Tech entrepreneurs like Phanindra Sama of redBus and Krishnakumar Natrajan, co-founder of Mindtree and cofounders of BigBasket are amongst others have also invested in the new fund.

The Partners at Inventus India are expecting to make investments in the field of Machine learning and Artifical Intelligence in healthcare, sales management, IoT and consumer internet companies with an element of service and enterprise software.

In a similar development, Lightspeed Venture Partners, a global VC firm had closed its second India fund at ₹1,200 crores.

By Varun

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