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IDG Ventures secures $150M for its $200M India Fund III


IDG Ventures India has raised $150 million for its India Fund III, reports Inc42. IDG had announced Fund III in February this year, with a target amount of $200 million. The firm expects to raise the rest of the amount before the end of the year.

According to the report, IDG Ventures will also use the fund to make Series B investments and above instead of only using it for seed funding. The $200 million Fund III is twice the size of the previous 2 funds which had a corpus of $100 million each.

IDG Ventures has been actively investing in internet and mobile startups, engineering and software enterprises along with recent investments including companies like HealthifyMe, Rentomojo, Bidgely and Zimmber. Additionally, IDG’s India portfolio includes companies such as Myntra, Flipkart, and Yatra.com, etc. The Indian division of the VC firm was originally initiated by Manik Arora, Sudhir Sethi and TC Meenakshisundaram 9 years ago.

In September last year, 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 had also joined the company as an adviser.

Funds dedicated to Indian tech startups:

– In March, 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.

– 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 February, 500 Startups launched a new $25 million fund to invest in India, Sri Lanka and Bangladesh. The fund would focus on early stage companies that have demonstrated traction.

– In the same month Nokia Growth Partners (NGP) announced a new $350 million fund IV,  for investing in IoT companies in the US, Europe, India and China.

– In January, Storm Ventures launched a new fund for software-as-a-service (SaaS) startups in India, with an allocation of at least $10 million for the fund.

– In the same month, Unicorn India Ventures finished a first close of Rs 40 crore on its Rs 100 crore fund. The fund would invest in early stage startups in verticals like mobile, social media, analytics, cloud tech and Internet of Things (IoT).

– In December 2015, China-based mobile internet firm APUS Group launched a fund in India worth Rs 300 crore to invest in startups. The fund would focus on investing in early stage startups working on mobile internet projects.

– In December 2015, Industrialist Sudhir Menon and digital marketer Atul Hegde had setup a new start-up fund called Rainmaker Ventures. The fund’s size would be $50 million and it would invest in startups across healthcare, education, mobile and FMCG.

– In October 2015, The Federal Bank created a startup fund with an initial corpus of Rs 25 crore, which the bank said was scalable.

Image Credit: Flickr User Howard Lake under CC BY-SA 2.0

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