Cactus Venture Partners Raises Rs 630 Crore Fund to Invest in Startups – News18

Cactus Venture Partners on Wednesday introduced that it has raised Rs 630 crore for its maiden fund to make investments in early progress stage startups. This is the ultimate shut for the fund, which is able to make investments in local weather expertise, well being expertise and business-to-business software program as a service firm backed by goal-pushed entrepreneurs.

CVP will deal with Series A and early Series B fundraising phases, focusing on corporations which have established Product-Market Fit (PMF), an announcement mentioned. The assertion mentioned 60 per cent of the capital commitments have come from home sources, whereas the remaining are from worldwide restricted companions from the US, Singapore, EU, and the UK.

Domestic backers embody SIDBI, Self-Reliant India Fund, and the UP Startup Fund, it added. Its normal companion Rajeev Kalambi mentioned the help obtained underscores the rising confidence in the Indian startup ecosystem.

The present portfolio contains 5 corporations, and CVP is focusing on to make an extra 8-10 investments in up to two years, it mentioned. While the first funding focus is on Indian startups, CVP actively encourages and helps portfolio corporations to broaden internationally, it added.

(This story has not been edited by News18 workers and is revealed from a syndicated information company feed – PTI)