Cactus Venture Partners on Wednesday announced that it has raised Rs 630 crore for its maiden fund to invest in early growth stage startups. This is the final close for the fund, which will invest in climate technology, health technology and business-to-business software as a service company backed by purpose-driven entrepreneurs.
CVP will focus on Series A and early Series B fundraising stages, targeting companies that have established Product-Market Fit (PMF), a statement said. The statement said 60 per cent of the capital commitments have come from domestic sources, while the remaining are from international limited partners from the US, Singapore, EU, and the UK.
Domestic backers include SIDBI, Self-Reliant India Fund, and the UP Startup Fund, it added. Its general partner Rajeev Kalambi said the support received underscores the growing confidence in the Indian startup ecosystem.
The current portfolio includes five companies, and CVP is targeting to make an additional 8-10 investments in up to two years, it said. While the primary investment focus is on Indian startups, CVP actively encourages and supports portfolio companies to expand internationally, it added.
Comments
0 comment