Inventus gets $70.3M commitment for early-stage investment fund

21 Nov, 2012

Inventus Capital Partners, an India-focused, early-stage investment fund, has received $70.3 million commitment from various investors for its second fund. The firm is yet to make a formal announcement but earlier, its management told Techcircle.in it was eyeing the first close at $70 million.

When contacted, the investment firm's spokesperson declined to comment on the development.

Inventus, which started fundraising for its second fund last November, is looking to hit the first close in November this year and a final close at $100 million by January 2013.

Inventus, whose portfolio companies are spread across verticals such as IT/ITeS, healthcare education, mobile, etc., has, so far, guided and invested in around 18 companies, with two successful exits already under its belt.

The VC firm ends up investing in around half-a-dozen companies each year and recently, it has put in money in Vizury Interactive, Dhingana.com and Power2sme.

In the past, it invested in companies including RedBus, eTechies, Savaari, Sokrati, TELiBrahma, Cbazaar, ViVu, Insta Health and Funds India, among others.

Inventus will be joining a slew of VC firms who have raised early-stage investment funds focused on India. Recently, Nexus Venture Partners, a technology-focused fund, raised $270 million for its third fund while Helion Venture Partners, an early-to-mid-stage venture capital firm, secured about $255 million for its third fund. The Kalaari Capital (formerly IndoUS Venture Partners), too, recently closed its $150 million fund. Others who have raised early-stage funds include Accel Partners, Kae Capital and India Quotient.

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(Edited by Sanghamitra Mandal)