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2014-11-18

IvyCap to fund 15 start-ups; set to raise Rs 900 crore

The fund will be invested in healthcare, education, agriculture, cyber security, e-commerce and technology

By Aparajita Choudhury

Mumbai-based venture capital firm IvyCap Ventures has said that it is in talks with foreign as well as existing investors to launch Rs 900 crore fund to invest in 15 start-ups from sectors like healthcare, education, agriculture, cyber security, e-commerce and technology.

“We are just starting the process now; we have not yet formally launched that fund. But we are seeing a lot of interest from foreign and existing investors. We are quite positive that we should be able to raise that fund,” Vikram Gupta, Founder and Managing Partner, IvyCap told Entrepreneur India.

Gupta declined to comment when asked about the possible names of companies that would be funded.

In the month of September, the firm had launched Rs 244.5 crore fund to focus on both early and growth stage ventures founded alumnus of IITs and IIMs. “We have already invested in eight companies from the first fund,” Gupta said.

Reuters Market Light, a pioneer which offers ICT solutions across the entire agri value chain; Leixir, a services company which manages a dental labs chain in North America; eShakti, a women apparel brand; FieldEZ, a leading mobile field service management software based in US and India are some of the companies in which IvyCap Ventures has invested so far.

“Among all the companies that we have invested so far, four of them are doing very well and have managed to make their organisation profitable. In terms of return ratio, we are looking at least 25 per cent year on year,” shared Gupta.

Speaking on the future investment plans, Gupta said that their investment plan would remain the same. They will continue to invest on the early-stage companies with an initial investment of $3 to 4 million. “We are quite excited to look at the opportunity in the market and the kind of returns that can be generated for investors,” concludes Gupta.

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