IvyCap Ventures raising second fund of Rs 600 crore

Maiden fund of Rs 250 has been fully deployed, says Vikram Gupta, founder of IvyCap Ventures Advisors Pvt Ltd

Venture capital firm IvyCap Ventures is raising its second fund of Rs 600 crore. The company has completed investment of around Rs 250 crore maiden fund it raised last year and the second fund would be raised soon, said Vikram Gupta, founder and managing partner of IvyCap Ventures Advisors Pvt Ltd.

Speaking to Business Standard in the sidelines of the 179th Chamber day of Madras Chamber of Commerce and Industry (MCCI) and launch of Startup Entrepreneurial Ecosystem (SEE), he said that the company is closing the second round of fund raising soon.

"We are about to close that. We are sector agnostic, but we focus on the technology as a core enabler for the business. As long as the technology used properly, I think we are happy to support. The Rs 250 crore first fund is fully deployed," said Gupta.

The company has invested in companies which has technology as their core enabler, including in agriculture technology, cyber security, field force automation, e-commerce platforms, digital ad-tech platforms, healthcare. The portfolio under the IvyCap Ventures Trust Fund - I, of Rs 245 crore include around 10 companies including online jewellery firm BlueStone.com, digital advertising form Sokrat and RML Information Services formerly known as Reuters Market Light, which offers a bouquet of ICT solutions across the entire agri value chain.

Gupta said that IvyCap is expected to announce three more deals from the second fund soon.

The company's investment philosophy is to invest in Early to Growth Stage companies, with highly scalable and innovative business models and demonstrated sales. Although structured as a sector agnostic fund, key focus sectors include Healthcare, Education, Food based businesses, Technology, e/m-Commerce and other innovation oriented businesses.