TLDR:
Early-stage VC IvyCap Ventures has closed Fund III at INR 2,100 crore with plans to invest in roughly 25 companies in Series A.
Article Summary:
Early-stage venture capital firm IvyCap Ventures has announced the closure of its Fund III at INR 2,100 crore. The fund aims to make initial investments of INR 30 crore to INR 50 crore in about 25 Series A companies. Approximately 40% of the corpus has already been invested in various businesses, with an additional INR 100 crore set aside for investments in seed-stage firms through an independent team working with partners such as IITs, IIMs, and corporates.
The Fund will focus on high-growth companies with scalable business models and strong entrepreneurs offering differentiated value propositions across sectors. Notable investments include Beatoven.ai, Celcius, Agraga, Eggoz, ZestIot, Snitch, GradRight, Flexifyme, and Dhruva Space, with reinvestments made in businesses like BlueStone, Miko, LendBox, and Biryani By Kilo.
Vikram Gupta, Founder and Managing Partner at IvyCap Ventures, expressed gratitude towards the investors and advisory board for their support. The Fund has achieved substantial returns for previous investors, with Fund 1 delivering a 3X DPI and Fund 2 seeing a 0.4X DPI.
IvyCap Ventures claims to have built a diverse portfolio of around 50 companies in sectors like HealthTech, ConsumerTech, DeepTech, FinTech, EdTech, AgriTech, and SpaceTech. Notable exits include Clovia, Sokrati, Pharmarack, and Aujas, with Fund 1 realizing a remarkable 22X return on Purplle.
