Angel investor Rehan Yar Khan, who has invested in startups like Olacabs, Druva, Pretty Secrets etc. has raised INR 300 Cr for his maiden venture capital fund i.e. Orios Venture Partners, a fund for early stage internet and software product startups.
Small Industries Development Bank of India (Sidbi) is an anchor investor in the fund, Google India MD Rajan Anandan, Harvard Angels co-founder Raj Chinai and first generation entrepreneur Anupam Mittal are among the advisers to the fund. The 30% of the fund was raised from institutional investors, and majority 70% has been raised from ultra high-networth individuals (UHNIs).
Orios will invest between INR 1 Cr – INR 20 Cr in portfolio companies and will pick up new investments within the next two years, then make follow-on funding. Rehan said that Orios will be a 7-year, high-risk high-return fund, which is typical in early-stage investing. Software product startups will be one of the key themes that Orios will be investing in.
Rehan was an early member of Indian Angel Network (IAN) and has invested in a number of software product startups other than Druva including Sapience, Unbxd, Jigsee, WebKlipper and Reach Accountant.
He has investment in about 17 firms out which 66% has raised follow-on funding from investors like Matrix, Accel, Sequoia etc.
Rehan had previously founded ecommerce startup Flora2000 focused on US consumers, shipping flowers and gifts to more than 190 countries.
Recently, former Infosys executives V Balakrishnan and Mohandas Pai’s Exfinity Fund made a final close at INR 125 crore.