Peesh Venture gears up to launch 2 more funds in India
Last month the VC firm launched a Rs 60 crore fund in India
 "Peesh Venture gears up to launch 2 more funds in India")
Managing director Peesh Chopra said the company was in discussion with small investors and funds to start a fund in the range of $10 million.
“We have already initiated the process of raising PVC-III, a micro-cap fund, supported by institutional players and notable Indian tech-investment-savvy angels,” said Chopra, adding he was looking at pooling around $1 million from each of the investors.
The fund is expected to be launched within a year.
It will look at making in-seed and super early-stage investments. Its focus will be on the same sectors as PVC-II such as education technology, cleantech and nanotechnology.
On PVC-IV, Chopra said, it will be a $50-million India-focused fund.
Chopra said PVC in the next few months the company would commence work for the next fund, which will be around $50 million in size. The fund will make a final close in the next two years.
PVC's main focus will be clean technology, Nano technology and edtech domains, said Chopra.
PVC is currently investing out of PVC II, a $50 million (around Rs 310 crore) fund focused exclusively on early stage investments in ad tech, e-commerce, gaming, education, mobile apps, enterprise software, wearables and Internet of Things (IoT).
On Tuesday, PVC made its first investment in TLabs Accelerated MeetUniv -- India's first EdTech portal for overseas college search and application.
Commenting on the existing fund, Chopra said it would deploy around 70 per cent of the fund and leave the remaining for follow-up investments in its portfolio companies over the next three to five years.