SUMMARY
The fund has a corpus of INR 750 Cr ($94.4 Mn) and will likely close by the end of this year
It claims to have received a 15% commitment from investment company General Partners
Cactus Ventures’ portfolio includes Rubix Data Sciences, Auric, AMPM, and Vitraya Technologies
Venture capital firm Cactus Venture Partners (CVP) has made the first closure of its maiden fund after raising INR 350 Cr ($44 Mn). The fund has a corpus of INR 750 Cr ($94.4 Mn) and will likely close by the end of this year.
The fund will primarily invest between $2 Mn and $5 Mn in 15 tech-enabled startups that are working in cleantech, healthtech, and B2B SaaS sectors over a period of three to four years. It will also make follow-on investments of up to $10 Mn.
The fund claims to have received a 15% commitment from investment company General Partners.
“The CVP team is a mix of founders, investors, and operational experts to help startups that have crossed the PMF stage accelerate their growth journey. The fund’s capital raise has proceeded at an exceptional pace and we are grateful to the support received from our early LPs in India and abroad,” said Anurag Goel, general partner at Cactus Venture Partners.
Founded in 2021 by Cactus Communications’ cofounder Anurag Goel, seasoned investor Amit Sharma, and former banker and PE investor Rajeev Kalambi, CVP primarily invests in tech-enabled and D2C early-stage startups in India.
CVP portfolio includes tech-enabled risk management and monitoring platform Rubix Data Sciences, ayurvedic brand Auric, lifestyle brand AMPM, and SaaS healthtech platform Vitraya Technologies, as shared by the venture capital firm.
CVP aims to help entrepreneurs build sustainable and scalable businesses. It said that it helps its portfolio companies have access to its network, international markets, relationships and talent.
According to an Inc42 analysis, a total of 78 funds were set up in the first half of 2022. These funds concertedly received commitments of over $12 Bn in H1 2022. Some of the big VC funds that were launched in the corresponding period were Sequoia Capital, Elevation Capital, and Accel.
Most recently, venture debt firm Stride Ventures also sealed a $200 Mn worth second fund–Stride Ventures India Fund II to back 60-70 startups in India.
