Early-stage VC IvyCap Ventures Announces the Final Close of its Fund III at INR 2,100 Cr With an average initial investment of INR 30 crore to INR 50 crore, the fund intends to invest in roughly 25 companies in Series A.
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Early-stage venture capital firm IvyCap Ventures has announced the closure of its Fund III at INR 2,100 crore. The IIT Alumni Trust, a few family offices, and eminent Indian institutions are among the fund's limited partners.
With this closing, the total Assets Under Management (AUM) of IvyCap Ventures has grown to INR 5000 crore (USD 600 million).
With an average initial investment of INR 30 crore to INR 50 crore, the fund intends to invest in roughly 25 companies in Series A.
About 40% of the corpus has already been invested in a number of businesses, such as Beatoven.ai, Celcius, Agraga, Eggoz, ZestIot, Snitch, GradRight, Flexifyme, and Dhruva Space. In addition, the Fund has reinvested its prior fund's proceeds in businesses like BlueStone, Miko, LendBox, and Biryani By Kilo.
Additionally, INR 100 crore has been set aside for investments in seed-stage firms via an independent team using the IvyCamp platform and working with partners including IITs, IIMs, corporates, accelerators, incubation centers, and other platforms.
Overall, the Fund will focus on high-growth companies across sectors with strong potential, scalable business models, and solid BIZ Experiencess offering differentiated value propositions.
Vikram Gupta, Founder and Managing Partner, IvyCap Ventures, said, "We owe this achievement to the trust our investors have bestowed on us across our Funds. We are very fortunate to have an incredible team who have been with IvyCap Ventures along its journey. We are also grateful to our advisory Board, for their unwavering support since the inception of IvyCap Ventures. We have always believed in the potential of domestic capital and feel fortunate for the invaluable backing of India's leading institutional investors across all funds."
According to the official release, close to 60% of the Funds have come from the existing investors of IvyCapVentures in Funds 1 and 2.
IvyCap Ventures claims that it has achieved significant cash returns for its investors in previous funds. Fund 1 has delivered close to a 3X DPI (Distribution of Cash to Paid-in Capital), while Fund 2 has seen a 0.4X DPI, with most exits occurring through M&A.
Notable examples include Clovia (acquired by Reliance), Sokrati (acquired by Dentsu International), Pharmarack (acquired by a consortium of pharma companies including Sun Pharma and Cadilla Pharma), and Aujas (acquired by NSEIT). Additionally, IvyCap Ventures Fund 1 realised an INR 330 crore exit, with a remarkable 22X return on Purplle.
Over time, IvyCapVentures claims to have built a diverse portfolio of approximately 50 companies across sectors including HealthTech, ConsumerTech, DeepTech (SaaS, AI/ML, IoT), FinTech, EdTech, and emerging sectors like AgriTech and SpaceTech.
