Roehl Niño Bautista · · 1 min readIndian VC firm nets $214m in first close of environment-focused fund
India-based IvyCap Ventures has raised US$214 million for the first close of its environment-integrated Fund 3, which has a target of at least US$268 million for its final close.
IvyCap Ventures founder and managing partner Vikram Gupta / Photo credit: IvyCap
Fund 3 will focus on consumer tech, deeptech, healthtech, fintech, SaaS, and edtech players while incorporating the United Nations’ sustainable development goals (SDG) and environmental, social, and governance approaches in its investment decisions. It will be investing up to 400 million Indian rupees (US$5.36 million) in around 20 to 30 series A rounds.
Firms receiving IvyCap funding should trace its objectives to at least one of the SDGs. The fund will monitor portfolio companies using a detailed global reporting initiative.
Founded in 2011, IvyCap says it currently manages US$425 million worth of assets.
Currency converted from Indian rupee to US dollar: US$1 = 74.58 rupees.
Editing by Samreen Ahmad and Jaclyn Tiu
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