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5 Venture Capitalists Who Recently Closed Their Funds Here are the India-focused VCs that announced the closing of their funds.

By Minakshi Sangwan

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T-B (L-R) Manish Kejriwal, Jeff Crowe, Ishpreet Singh Gandhi & Apoorva Sharma, Vikram Gupta, & Surya Mantha

Global innovation and entrepreneurship have greatly benefited from the world of venture capital (VC). This sector offers a solid financial foundation for innovative concepts and game-changing enterprises. In a developing startup environment like India's, venture capital (VC) is even more important.

So let's take a closer look at the top VC funds that closed their funds in April this year.

Kedaara Capital

India-focused private equity firm Kedaara Capital closed its fourth round of funds for USD 1.74 billion. The fund would like to make both control and minority deals. The ideal range would be USD 75 million to USD 150 million. The funds may even look for considerably larger transactions with co-investments.

Sector-agnostic Kedaara is bullish on several sectors, including consumer, IT, healthcare, and financial services.

The firm focuses on attractive investment opportunities in India. The dermatological chain Oliva Skin & Hair Clinic, Purplle, an online marketplace for beauty and personal care products, and Perfios were among the major investments made through that vehicle. Kedaara recently invested in the ice cream brand Dairy Day.

Norwest Venture Partners

Global growth equity and venture capital firm Norwest Venture Partners closed its USD 3 billion NVP XVII, LP fund (NVP 17). The VC said it will invest between USD 10 million and USD 30 million in early- to mid-stage businesses that present a strong business plan and some revenue traction.

The new fund aims to support multi-stage investments across the enterprise, consumer, and healthcare sectors. It has already supported Amagi Labs, Swiggy, Xpressbees Logistics, Duroflex, and Ofbusiness, among others, in India.

Stride Ventures

About a year after announcing the first closing of the same fund, venture debt firm Stride Ventures announced the closing of its Fund III at USD 165 million. A wide range of investors, including corporate treasuries, family offices, insurance companies, and high-net-worth individuals (HNIs), have backed this third fund.

Stride Ventures has a portfolio of over 140 startups across consumer, fintech, agri-tech, B2B commerce, health-tech, B2B SaaS, mobility, and energy solutions (EV). BlueStone, Moneyview, Moove, Foxtale, CureSkin, NewMe, Nat Habit, and AgroStar are a few of the companies in its portfolio.

IvyCap Ventures

Early-stage venture capital firm IvyCap Ventures closed its Fund III at INR 2,100 crore. The IIT Alumni Trust, a few family offices, and eminent Indian institutions are among the fund's limited partners.

The fund plans to invest in about 25 companies in Series A, with an average initial investment of INR 30 crore to INR 50 crore. About 40% of the corpus has already been invested in several businesses, such as Beatoven.ai, Celcius, Agraga, Eggoz, ZestIot, Snitch, GradRight, Flexifyme, and Dhruva Space.

In addition, the Fund has reinvested its prior fund's proceeds in businesses like BlueStone, Miko, LendBox, and Biryani By Kilo. Additionally, INR 100 crore has been set aside for investments in seed-stage firms via an independent team using the IvyCamp platform and working with partners including IITs, IIMs, corporates, accelerators, incubation centers, and other platforms.

Over time, IvyCapVentures aims to build a diverse portfolio of approximately 50 companies across sectors including HealthTech, ConsumerTech, DeepTech (SaaS, AI/ML, IoT), FinTech, EdTech, and emerging sectors like AgriTech and SpaceTech.

Capria Ventures

A global South-focused venture capital firm called Capria Ventures has closed the INR 153 crore (~USD 19 million) India Opportunity Fund.

Capria Ventures invests in early and early-growth stage startups in the Global South comprising India, Latin America, Africa, and Southeast Asia; across a range of sectors, including Fintech, Jobtech, Edtech, Agtech, Climate, and SaaS.

In February 2023, Capria achieved the first close of its India Opportunity Fund at INR 75 crore. Announced originally as Unitus Ventures India Opportunity Fund, Capria and Unitus later joined forces to operate as a single brand, Capria, in September 2023.

Capital from the first close of this fund has invested in the breakout leaders of its early-stage funds (Capria India Fund I and Capria India Fund II), such as Awign, BetterPlace, Cuemath, Eduvanz, and Masai.

Minakshi Sangwan

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