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Updated: VC Firms Sequoia, IDG, Inventus, Blume & Mayfield Raising More India Specific Funds

Update: It appears that Sequoia Capital India and IDG Ventures are also raising new funds:

– Sequoia Capital India is raising $500-$600 million, according to Fortune. Sequoia Capital India made 12 investments last year. It has recently invested $13 million in Bankbazaar along with Walden International, $37 million in Zomato along with Info Edge, $15 million in Cardekho, $2 million in CitrusPay, among others. It also exited Prizm Payments, which it had invested $15 million in.

– IDG Ventures is raising a Rupee Fund, from Indian investors. It’s targeting a fund raising of over Rs 1000 crore, which is approximately $160 million, reports The Times of India.

Earlier (20th January 2014): More money available for startups in India, it appears:

– Inventus Capital has closed a $106 million fund for backing Indian and US based startups. Inventus’ previous investments include DhinganaPolicybazaarUnbxdSavaariVizuryCBazaarFundaIndiaSokratiPower2SMERedbusTelibrahma and PoshMark. Among these, the Fund II investment include Unbxd and Policybazaar, which are Internet firms. It plans to invest in 20-25 firms from this current fund. The fund has a teams in Silicon Valley and Bangalore, and invests in both geographies. According to its Press Release, “Inventus has particular interest in and experience with digital services businesses, particularly business software, internet marketplaces, mobile apps, and technology enabled services addressing a wide variety of consumer and business-oriented industries. Inventus prefers to lead a company’s first institutional round and can invest up to $10 million as a company grows.” More here

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– Blume Ventures is raising a $50 million India specific fund in May or June, reports The Economic Times. What’s particularly interesting about Blume is that they’re an India fund with money raised from within India, so investments made by the company are not seen as foreign funding. This is Blume’s second fund raising, after it had raised around Rs 100 crore in 2012. It invested in a fairly wide spread of companies with that fund, including investments in health video site HomeVeda, e-commerce site VoxPop Clothing, Digital Marketing firm Kuliza, beauty products store Purplle, reports marketplace Infollion, events ticketing site Explara, online marketplace Instamojo, apart from others like VoxApp, Paletly, Nowfloats, Tookitaki, We Are Holidays, Taxiforsure, Bedbathandmore, Socialblood, Shephertz, Reviews42, Skoolshop, Gharpay, Webengage, Printo, Careervita, Unamia, Framebench, Glamrs, IDfy, Emo2, E2E Networks*, among others. They got an exit with the sale of payments firm Qubecell to Boku, but Adepto and Moneysights were shut, as StartupCentral points out, with Blume firm Kuliza acquiring Adepto’s Crowdnub platform.

– Mayfield Fund has raised $86 million for its India dedicated fund, called Mayfield India II. Its first fund first fund, was raised in 2008 with a corpus of $111 million. Mayfield is invested in companies like IndiaProperty.com, PayMate, Amagi, Deals and You, MakeMyTrip, Bangalore based incubator AngelPrime, Consim Info (Bharatmatrimony). StartupCentral says Mayfield may even raise more funds

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



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