Nikita Peer · · 1 min readIndia’s growth-stage startups get fresh injection of $110M with Zodius Capital’s fund raise
India’s private equity firm Zodius Capital has raised US$110 million for investments in internet and technology companies, according to a report in The Economic Times. With this, the fund closes the first tranche of its US$500-million fundraise.
It will use this to invest US$11-15 million each in about eight enterprise software and consumer technology companies by year end. The fund has already disclosed investment in mobile application development and distribution company AppsDaily Solutions and online grocery firm BigBasket.
Zodius Capital was founded by Neeraj Bhargava, who led business process outsourcing firm WNS for IPO in the US. He was also among the first investors in MakeMyTrip.
Zodius invested in video entertainment startup Culture Machine, digital marketing firm Group FMG, financial research firm ZyFin, and big data startup Antuit, among others from its maiden fund.
Some growth-stage funds in India include global firms like Ascent Capital, Sequoia Capital, Norwest Venture Partners, Bessemer Venture Partners, and Fidelity Growth Partners India. In May 2014, Sequoia’s India-focused fund raised US$530 million.
Source: The Economic Times
Editing by J. T. Quigley, image by TaxCredits
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