IvyCap Fund, a venture capital firm based in Mumbai, has closed its second fund. The firm has raised Rs. 600 crore, latest addition being Rs. 300 crore in the second phase with sponsor investor IIT Alumni Trust investing in a decent Rs 120 crore.
Vikram Gupta, managing partner at IvyCap said,
We have earmarked 90% of our Fund 2 for investments in series A and B rounds. We have also set aside a corpus of Rs 60 crore for IvyCap Startup Platform.
There is still an option to raise an additional amount (“Greenshoe Option”) of up to Rs. 6,000 million. If that happens, the total amount raised by the firm will hit Rs. 12,000 million.
IvyCap Ventures has launched a venture capital fund which is guided by an entrepreneur-centric investment approach. It claims to be celebrating excellence, innovation, fresh ideas in sunrise industries and the entrepreneurial zeal that is at the core of a business venture.
Its vision is to build a portfolio of world-class enterprises, driven by exceptional entrepreneurs and powered by IvyCap Ventures. Its investment philosophy is to invest in Early to Growth Stage companies, with highly scalable and innovative business models and demonstrated sales.
Since 2011, it has been investing in companies which has technology as their core enabler, in sectors such as agriculture technology, cyber security, field force automation, e-commerce platforms, digital ad-tech platforms, healthcare.
From its Trust Fund – I of Rs. 245 crore, it invested in several startups, including online jewellery firm BlueStone.com, digital advertising form Sokrat, RML Information Services formerly known as Reuters Market Light, etc.
The investment size for the firm varies from Rs. 5 crores to about Rs. 25-30 crores. The average investment value is around Rs. 15-20 crores. Before making investment, the firm looks at three things – Entrepreneurs’ backgrounds, risk-taking ability and ability to seek mentorship and leverage support.
This year, IvyCap has invested in two companies so far. The firm led the Series A round of Taskbob of around $4.5 million. It was also the leading investor in the seed round worth $148.5K for FT Cash.
The firm is also working towards building a strong entrepreneurial ecosystem across educational institutions of the country. Towards this goal, IvyCap has created a “Give Back” program to share part of its own profits with the educational system of the country, primarily to encourage further entrepreneurship.
