VenturEast, previously APIDC Venture Capital, announced a $150-million 'VenturEast Proactive Fund' that will invest in both early-stage companies building new technologies and growth stage companies using technology to build growth. | |
| A significant focus of the fund will be to invest in businesses that address the needs of the digital divide/bottom of the pyramid markets, and of the small and medium enterprises (SMEs). |
| |
| VenturEast Proactive Fund already has commitments of close to $100 million, and plans to close at $150 million. The fund is well differentiated even in terms of investors with a globally-diverse range of marquee investors. |
| |
| These include Argonaut Private Equity USA, itself a strong direct investor in India; SEDCO Saudi Arabia, a fund investor in West Asia; LIC, the leading investor in funds in India; and the International Finance Corporation, a member of the World Bank group, that focuses on private sector development through investment and advisory services to promote inclusive growth and competitiveness. |
| |
| Prior to this fund, the fund manager had raised six funds "" two venture capital, two incubation, a listed fund, and a new fund focused on micro-equity "" totalling up to nearly $170 million |
| |
| The core team of the VenturEast Proactive Fund consists of Sarath Naru, managing partner, and Raghu Mendu and Siddhartha Das, general partners. |
| |
|
| |
