Lokesh Choudhary · · 1 min readIndia’s Cactus Venture Partners closes first fund at $76m
Photo Credit: CVP
India-based Cactus Venture Partners (CVP) has closed its first fund at over US$76 million, marking one of India’s largest first-time venture capital funds.
Domestic limited partners comprise 60% of the fund’s investor base. They include development financial institutions such as SIDBI, Self-Reliant India Fund (SRI Fund), and the UP Startup Fund.
CVP has a primary interest in climate tech, healthtech, and B2B software-as-a-service companies, though it said it has a broad sector focus. The firm targets series A startups and those in the early series B stage.
Currently, CVP has five companies in its portfolio, including cleantech startup Lohum and global clothing brand AMPM. The fund plans to make eight to 10 more investments over the next one to two years, primarily in Indian startups but with an eye on international expansion.
The fund’s general partners are Amit Sharma (previously with Alibaba-backed eWTP Capital), Anurag Goel, and former investment banker Rajeev Kalambi.
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Editing by Putra Muskita and Dhania Putri Sarahtika
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