IvyCap Ventures Raises INR 1,608 Crore

IvyCap currently manages a portfolio of over 30 companies and has already made successful exits in six companies

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IvyCap Ventures has announced the first close of its fund three at INR 1,608 crore. The fund is targeting to do its final close at INR 2,000 crore. Two-thirds of the Fund 3 has been raised from its existing investors.

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IvyCap currently manages a portfolio of over 30 companies and has already made successful exits in six companies including a partial exit in Purplle last. With its fund three, IvyCap will continue to focus on areas like consumertech, deeptech, healthtech, fintech, SaaS, edtech, etc. The fund will deploy an average of INR 30 to 40 crore as its first cheque in around 20-30 new Series A companies. In addition, the fund will reserve around 20 per cent of the corpus for co-investing in its existing portfolio from fund two. The balance amount will be reserved as follow up on the entire portfolio, said a statement.

“We have proven the model of working through the alumni ecosystem of the IITs, IIMs and a few other top educational institutions of India. Our passion lies in building the endowment ecosystems in India.Our efforts led to the formation of India’s first Endowment Fund at IIT Delhi that was launched by the President of India in October 2019. This model was then replicated by IIM Ahmedabad and a few other IITs. Today, we see a substantial alumni base of 500,000 from IITs and IIMs working very passionately with us,” said Vikram Gupta, founder and managing partner.

IvyCap’s fund three has integrated the sustainable development goals (SDG/ESG) approach in its investing philosophy. Every company that it is investing in will map its objectives with at least one of the 17 goals of the United National SDG framework. The Fund will track its portfolio companies on the objective metric of 169 targets behind these goals using a detailed global reporting initiative (GRI) metric. In an effort to focus on SDG/ESG, IvyCap recently acquired a company called Fandoro that has been doing SDG consulting for several years, added the statement.