Mumbai-based early stage venture capital firm Orios Venture Partner has announced $150 Mn (about INR 950 Cr) fund raise from several institutional investors including, marquee domestic family offices and HNIs.
The fund raised is estimated to make 30 investments in domains like financial technology and business-to-business startups in addition to the pre existing domains for investment.
Founded in 2013 by Rehan Yar Khan, Orios Venture Partner is an early stage venture fund which primarily invests in software and technology enabled startups. The VC firm has invested in almost 15 startups in India including Zo Rooms, Pretty Secrets, Ziffi, Yumist, Zapstitch, Druva, Olacabs, Sapience Analytics, Jigsee, Taskbob, Unbxd, DocSuggest, IndiaCollegeSearch and Snapion in the consumer, enterprise, SaaS and ecommerce segment.
According to Rehan Yar Khan, managing partner in Orios Venture Partner, “When we launched our first fund in 2013, our objective was to give the domestic investor an opportunity to participate in the India online growth story. We were also best placed to leverage the combined experience of the team in building some of the most successful consumer & software product companies out of India.
Prior to this Rehan had raised $47 Mn (about INR 300 Cr) for his maiden venture capital fund I. With the new funds raised the total funds managed by Orios will be about $200 MN (about INR 1250 Cr).
Orios new fundraise has come at the time when the venture capital fundraising is expected to reach a record-high in India. There has been at least half a dozen VC firms which raised money for India focused funds. Out of which Sequoia Capital raised $210 Mn, Mayfield raised $108Mn, Lighthouse raised $125 Mn, SAIF Partners raised $350 Mn, Accel Partners raised $305 Mn and Lightspeed Venture Partners raised $115 Mn. Recently, Helion Venture Partners raised $300 Mn and Kalaari Capital had announced to raise $275 Mn India specific fund. Moving in line, Blume Ventures, Nexus Venture Partners and IDG Ventures are also planning to raise funds by the year end.
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