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IvyCap secures Rs 300 cr to invest in IoT, AI & other startups

IvyCap Ventures has secured Rs 300 crore in the first tranche of its Rs 600 crore IvyCap Fund 2, which was launched in October, reports YourStory. The agency will use 10 percent of this fund to fund the IvyCap startup program and IvyCap Ventures Initiative which makes seed investment of upto Rs 1 crore per startup. The agency plans to invest in 25-30 startups in the next two year in sectors like IoT, healthtech, machine learning, AI, agritech and edtech. The rest of the funds will be used for Series A and Series B rounds investing in 12-13 companies in the next two years. The fund will be completed by September. IvyCap also hosts IvyCamp, an initiative to connect entrepreneurs, which claims to have 1,000 startups on it. As of now, the startups in IvyCap’s portfolio include Reuters, Aujas, fieldEZ, Vinculum, Leixir, eShakti, Purplle, Sokrati, Clovia and BlueStone. It currently also hosts an option for entrepreneurs to submit broad details of their business plan, to be considered for funding. Recently announced startup funds in India: - Last month, medical equipment provider Trivitron’s Managing Director GSK Velu floated two investment funds—a Venture Capital (VC) fund under Stakeboat Capital targeting to raise $100 million, and a family office fund with a corpus of $75 million. - In the same month, equity firm Paragon Partners launched Paragon Partners Growth Fund I (PPGF-I), a $200 million India focused fund. The fund will focus on financial services, infrastructure services, industrials and healthcare services. - In…

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