This fund is managed by an advisory company, which is a partnership between a team led by Neeraj Bhargava and Avendus Capital Private Limited.
Zodius Technology Fund, a SEBI registered Alternative Investment Fund has announced that it has Rs 700 crore ($110 million) to invest in the Indian technology sector.
This fund is managed by an advisory company, which is a partnership between a team led by Neeraj Bhargava and Avendus Capital Private Limited, a leading Indian financial services firm. The investing team also has Gautam Patel and Shilpa Kulkarni as the other Managing Partners.
Further Zodius Technology Fund has entered into a co-investment arrangement with Mauritius based Zodius Technology Fund II giving portfolio entities access to a total corpus of Rs. 700 crore.
“We are pleased to see strong investor commitment toward Zodius’s approach of growth and late stage investing in the India-centric technology sector, leading to a quick raise of capital. The funds’ strategy combined with the strong operating support we provide the portfolio companies, places them very competitively as valuable partner for entrepreneurs looking to build world class and market-leading companies”, said Neeraj Bhargava.
The fund has already deployed approximately 40 per cent of its capital in companies including SuperMarket Grocery Supplies Pvt Ltd, the Bangalore-based company that owns and operates the online grocery portal BigBasket.com and Apps Daily Solutions Pvt Ltd, a mobile application development and distribution company based out of Mumbai.