Bengaluru-based early-stage venture capital firm Inventus Capital Partners has marked the first close of its third fund at $29 Mn (INR 200 Cr) to invest in capital-efficient startups within the business-to-business and business-to-consumer spaces.
The target of the fund is $47.31 Mn (INR 325 Cr) and the company has capped at $58.23 Mn (INR 400 Cr). Inventus is looking to invest in tech-focused companies with a strong filter on capital efficiency for predominantly Series-A deals.
The Indian team — comprising Rutvik Doshi, Samir Kumar and Parag Dhol — decided to raise its own fund, along with setting up an independent investment committee (IC) as well last year.
The firm raised its first fund of $51 Mn in 2009 and the second one closed with commitments of $106 Mn in January 2014, both of which had a focus on US and India.
The partners at Inventus India expect to make investments from the new fund in areas of applications of machine learning and artificial intelligence in healthcare, sales management, industrial Internet of Things (IoT) and consumer internet companies with an element of service and enterprise software.
It typically leads the first venture round with $1 Mn to $2 Mn and as the businesses grow, it invests from $0.25 Mn up to $10 Mn.