The fund has completely been raised from domestic investors, with 20 per cent anchor commitment coming from the alumni of IITs and IIMs globally, and the rest from institutional investors.
Venture capital firm Ivy-Cap Ventures has raised Rs 244.5 crore for its maiden fund that targets early-to-growth stage start-ups founded by graduates of select top colleges like IITs and IIMs, as reported by Economic Times.
The fund has completely been raised from domestic investors, with 20 per cent anchor commitment coming from the alumni of IITs and IIMs globally, and the rest from institutional investors.
Vikram Gupta, Founder and Managing Partner, IvyCap told ET that its strategy of backing companies founded or referred to by alumni of top colleges has clicked with investors in funds, or limited partners (LPs).
The report further stated that IvyCap has already started soft marketing its second fund, which will raise around Rs 900 crore. IvyCap Ventures also counts GK Pillai, former union home & commerce secretary, as chairman of the fund.
"We have a strong mentoring programme wherein highly qualified, experienced professionals coming from diverse industries actively work with the investee companies in strategy, business development and operations," said Pillai.
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