Private equity investor, Fulcrum Venture, which focuses on the SME business opportunities has secured undisclosed amount of funds from Small Industries Development Bank (SIDBI).
Fulcrum Venture was foreseeing approximately $16 Mn (INR 100 Cr) fund raise for its second India specific fund. It raised INR 60 Cr ($9.7 Mn) as the first part of this fund in 2013.
With the new funds, the venture capital firm plans to invest in other industry verticals along with healthcare and wellness. Being a small and medium enterprise-focused fund, Fulcrum Venture India seeks to invest funds between $780K to $2.5 Mn (INR 5 Cr – INR 15 Cr).
Founded in 2000, Fulcrum is a private equity investor with a focus on SME business opportunities. The venture capital fund has invested in eight startups till date including Shield Healthcare, Richfeel Health and Beauty, Congruent Solutions, Nutri Synapzz Therapeutix, SwaaS Systems, CMYK Health boutique, Curatio and Casa Grande. Recently, Mumbai-based startup NoBroker secured $3 Mn funds from Fulcrum Ventures accompanied with SAIF Partners and Chennai-based Southern Health Foods Pvt Ltd., the maker of Manna foods, secured INR30 Cr ($5 Mn) investment.
Krishna Ramanathan, founder partner of Fulcrum Venture said, “We’ve made four investments till date and signed term sheets for two more. Once we finish with these, we will scout for the seventh from the fund. Fulcrum is also, considering a raise for its third fund within 12-15 months with a corpus between INR 250 Cr- INR 300 Cr.”
Investors believe that India is at a very nascent stage at Startup ecosystem growth as compared to the US market. The investors are filling up their cisterns to provide the most to domestic startups and contribute to their growth story.