2 hrs ago
Finvolve Announces ₹90 Cr First Close Of Growth Fund
Finvolve is an investment firm that gives money to startups.
It has collected ₹90 Cr for a new fund that aims to raise ₹250 Cr in total.
The firm expects to finish raising the rest within six months.
This fund will invest in startups that have already moved beyond their earliest stage.
It will focus on defence and aerospace, advanced technology, energy, and consumer businesses.
Finvolve plans to invest in 30-35 startups over the next three to four years.
The firm usually hopes to sell investments through a company’s IPO.
Finvolve says it already manages four funds and has invested in more than 40 startups.
Finvolve has announced the first close of its ₹250 Cr growth-stage fund at ₹90 Cr, with a greenshoe option.
The firm expects to complete the fund’s final close within six months.
The fund will target growth- and late-stage Indian startups in defence and aerospace, strategic technology, energy, and consumer sectors.
Finvolve plans to build a portfolio of 30-35 startups over three to four years.
The India Accelerator-backed firm currently manages four active funds and says it has made more than 40 startup investments.
- Who
- Finvolve, the multi-stage venture capital arm of India Accelerator and Finolutions, announced the fund close.
- What
- It announced the first close of a targeted ₹250 Cr growth-stage fund at ₹90 Cr, with a greenshoe option.
- Where
- The fund will invest in Indian startups.
- When
- The announcement date was not specified; Finvolve expects the final close within six months.
- Why
- The fund is intended to support growth- and late-stage startups and build a portfolio of 30-35 companies.
Key facts
- First close
- ₹90 Cr
- Target fund size
- ₹250 Cr
- Expected final close
- Within six months
- Target portfolio
- 30-35 startups
- Investment period
- 1.5 years
- Target exit period
- Three years
- Current funds
- Four active funds
- Reported investments
- More than 40 startups
Quotes
Apoorva Vora
Cofounder of Finvolve
“From a capital perspective, we see a compelling opportunity to participate in companies that have already crossed the early-risk phase and are now entering their next stage of value creation.”
inc42.com
Sources
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