Deepti Sri · · 2 min readInvestor of IPO-bound Pharmeasy hits $30m in final close of its third fund
India-based VC firm Orios Venture Partners announced it has hit the final close of its Select Fund I at US$30 million, the third fund raised by the company so far.
The firm kept the institutions and family officers that have backed the fund undisclosed.
Rehan Yar Khan, managing partner at Orios Venture Partners / Photo credit: Orios Venture Partners
The Select Fund I is focused on areas including new commerce, financial inclusion, new media, gaming, consumer tech, and agritech, among others. It has an average ticket size of between US$4 million and US$8 million per company.
The fund invests in follow-on rounds of existing companies in its portfolio, and also in companies in the late-stage to pre-IPO stage, based on the familiarity of the company founder.
“2021 will go down in history as the year India’s tech IPO story started. With our portfolio company Nazara having [publicly listed] and Pharmeasy and MobiKwik on course to an IPO along with half a dozen other companies, we are tremendously excited about what the future holds,” said Anup Jain, managing partner at Orios Venture Partners.
See also: These are the most active investors in India’s startups
Orios has invested in the series D and E rounds of Pharmeasy, which has announced plans to launch its IPO in the next nine months. It has also backed GoMechanic, a car-servicing startup based in India, in its US$42 million round.
Editing by Miguel Cordon and September Grace Mahino
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