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2015-02-19

Ventureast looks to raise up to $200 million for technology startups

The Chennai-based VC firm specialises in all stages, incubation, mezzanine, and growth capital investments in small and medium middle market enterprises.

Private equity and venture capital firm Ventureast Fund Advisors India Ltd is looking to raise around $150-200 million for technology startups, according to a Mint report citing a top company executive.

"We expect this fund to close faster than the previous ones given the sentiment revival among the large institutional investors," Sarath Naru, Managing Partner, Ventureast, told the newspaper.

The Chennai-based VC firm specialises in all stages, incubation, mezzanine, and growth capital investments in small and medium middle market enterprises. The firm prefers to invest in technology and technology-enabled sectors, biotechnology, healthcare infrastructure, clean tech, agribusiness, etc.

Ventureast spokesperson confirmed the development over phone but did not disclose details.

With close to $300 million under management, the firm invests in innovative businesses across multiple sectors and multiple stages of a business - from seed and early to growth stages.

“We are also looking to invest in companies that are working on ‘consumerisation of enterprise software’—those that are making business software simpler and more interactive,” said Sateesh Andra, Managing Partner, Ventureast Tenet Fund, one of the funds promoted by the company.

Recently, the firm invested Rs 40 crore along with Asian Healthcare Fund ($6.5 million) in Hyderabad-based Eye Gear Optics India Pvt Ltd.

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