Inventus Capital eyes $100M by Jan 2013 for new early-stage investment fund

Inventus Capital Partners, an India-focused, early-stage investment firm, is hoping to close the fundraising process for its new fund by January 2013, where it is looking to raise around $100 million (Rs 538 crore), Inventus' managing director Kanwal Rekhi told Techcircle.in at the sidelines of an entrepreneurship event held in Kochi.

Inventus hopes to join a slew of VC firms raising new funds and chasing early-stage investments in India at a time when larger private equity firms have struggled to convince limited partners or LPs to back mature and mid-stage growth capital investments in the country.

The firm, which typically leads the first venture round with $1-2 million in funding, with further follow-on funding in the portfolio company, has recently invested in Vizury Interactive, Dhingana.com and Power2sme.

Inventus, whose portfolio companies are spread across verticals, such as IT/ITeS, healthcare education, mobile, etc., has, so far, guided and invested in around 18 companies, with two successful exits already under its belt.

In the past, it has invested in names such as RedBus, eTechies, Savaari, Sokrati, TELiBrahma, Cbazaar, ViVu, Insta Health and Funds India, among others.

On the entrepreneurship environment in Kerala, Rekhi said, "As an investor, we do not have any special investment plans for Kerala startups. However, we are open to invest here as well."

If successful in its current initiative, Inventus would join firms such as Accel Partners, Helion Venture Partners, Kalaari Capital (formerly Indo-US Venture Partners), Nexus Venture Partners, Kae Capital and India Quotient for hitting the first close or completing the final fundraising for new or maiden early-stage VC funds.

For more details on Inventus' second fund, click here.

(Edited by Sanghamitra Mandal)