IDG Ventures India has launched an India-focused tech fund with a target amount of $200 million, reports TechCircle. This is third fund being setup by IDG that has a focus on the Indian market; previously in 2013, IDG hurled a $175 million fund, and in 2007, IDG Ventures had raised $150 million, added the report. IDG Ventures has been actively investing in internet and mobile startups, engineering and software enterprises along with recent investments including companies like Rentomojo, Bidgely and Zimmber. Additionally, IDG's India portfolio includes companies such as Myntra, Flipkart, and Yatra.com, etc. Globally, IDG has around $4 billion under management, adds the TechCircle report. The Indian division of the VC firm was originally initiated by Manik Arora, Sudhir Sethi and TC Meenakshisundaram 9 years ago. Recently, Ratan Tata joined IDG Ventures as a senior advisor for advising portfolio companies. Note that, Tata has invested in over a dozen startups over the last year or so in his personal capacity, although the amount has never been disclosed. In October 2015, Kris Gopalakrishnan also joined the company as an adviser. India-focused funds dedicated to tech startups: - Yesterday, 500 Startups announced 500 Kulfi—a $25 million fund focused on India, Sri Lanka and Bangladesh. The fund will be sector agnostic, with a focus on financial tech, education tech, health & wellness, content, data analytics and SaaS/SMB. - Earlier this week, Nokia Growth Partners announced a new $350 million fund IV, at the Mobile World Congress in Barcelona, for investing in IoT companies in the US, Europe, India…
