Darwinbox, Cult.fit Backer Endiya Partners To Launch Third Fund With Over $100 Mn Corpus

Venture capital fund Endiya Partners, which counts Darwinbox, Cult.fit, Kissht, Sigtuple, Zluri, Qapita, Eyestem, Sugar.fit, Mylo and Scrut Automation among its portfolio companies, is set to launch its third fund for a corpus ranging between INR 800 Cr and INR 1,000 Cr ($100-$125 Mn).

The new fund will focus on startups in the digital industry, deeptech, health, software-as-a-service and artificial intelligence (AI), Moneycontrol reported.

“We were investing from our Fund II and we will be launching Fund III by March and will be investing from it from the later part of this year, and we will invest in around 18-20 companies,” founding partner Sateesh Andra said as quoted in the report.

The VC firm operates two funds and has deployed investments totalling $7-$8 Mn into startups during their growth stages.

Back in 2021, Endiya Partners raised INR 17.5 Cr from the Biotechnology Industry Research Assistance Council’s (BIRAC) AcE Fund, for the final close of its INR 500 Cr Fund II.

Currently, the firm is actively deploying capital from its Fund II into startups operating in diverse sectors such as SaaS, information security, semiconductors, healthcare & life sciences, and financial services, showcasing a broad investment strategy.

Founded in 2016 by Sateesh Andra, Ramesh Byrapaneni and Abhishek Srivastava, Endiya Partners has invested in several Indian B2B startups in healthtech, enterprise SaaS, cybersecurity and other allied sectors.

Recently, Hyderabad Angels, a platform which connects angel investors and entrepreneurs with innovative business ideas, launched its maiden venture capital fund at INR 150 Cr to invest in early stage startups.

As per Inc42 report, 2023 saw the announcement and launch of 64 funds, including venture capital funds, micro-funds, and corporate VC funds. These funds amounted to over $5.6 Bn. In comparison, 2022 witnessed the launch of 126 funds, raising over $18 Bn for startup investments.