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Helion Venture Partners raises $300 mn to invest in early, mid startups in India

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Venture capital firm Helion Venture Partners has raised $300 million for startups in India, reports TechCrunch. Helion’s startup portfolio which includes Housing.com, TaxiForSure, ShopClues and MakeMyTrip is looking to invest in early stage and mid stage startups in India with the latest round of funding. Typical investments will range from $1 million to $10 million and the fund is expected to last for three to four years, Helion co-founder Sanjeev Aggarwal told the publication.

The report added that Helion will invest around three-quarters of the fund towards startups that are helping digitize the national economy, for example those involved in retail, travel, insurance and, loans and the rest will be used for companies with the potential to do business globally, for example analytics, enterprise software and other “next generation outsourcing businesses.”

It’s also worth noting that Accel Partners raised $305 million for its new fund Accel India IV last month. Accel will continue to focus on seed and early stage venture funding with a possibility of pursuing growth equity deals like it’s previous growth equity investment in BookMyShow.

Changes at the top

Helion in September 2014 also  announced the promotion of Directors Ritesh Banglani and Rahul Chowdhri as Partners of the firm. Banglani was previously Vice President at IDG Ventures India, Director on the board of Ozone Media and an observer on the board of Kreeda Games at IDG Ventures India before joining Helion in 2010. The company also announced the resignation of Senior Manager Director Kanwaljit Singh, who plans to pursue his interests in the consumer space. Singh will stay will the company till March 2016 to ensure a smooth transition.

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Helion’s recent investments

– In February Helion invested Rs 30 crore Hyper local products discovery platform Wooplr. The funds will be used for hiring and expanding Wooplr’s presence in the country.

– Helion also participated in a $100 million  funding round for e-commerce site ShopClues in January. In March 2013, ShopClues had raised $10 million from Helion Venture Partners, Nexus Partners and Netprice.com CEO Teruhide Sato

– Personalised home furnishings provider Livspace raised $4.6 million in a series A round of funding led by Helion Venture Partners and Bessemer Venture Partners in December 2014.

–  In September 2014, Bangalore-based online grocery retailer BigBasket has raised Rs 200 crore investment in a round led by Helion Ventures and Zodius Capital and participation from existing investors Ascent Capital and LionRock Capital.

– Online recruitment platform TalentPad in October raised an undisclosed amount of investment from Helion Ventures.

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