Rehan Yar Khan raises over $50M for maiden VC fund, close to investing in a Mumbai-based software firm

Angel investor Rehan Yar Khan has raised over $50 million (Rs 300 crore) for his maiden venture capital fund, Orios Venture Partners, which will seek to back home-grown ventures operating in the internet and B2B software products spaces. The fund, which has primarily raised money from domestic ultra high net-worth individuals, marks a huge affirmation of faith of investors in the high risk capital space.

With a flexible mandate, the fund will straddle across seed, Series A and Series B stages, with investment size ranging from Rs 50 lakh to Rs 20 crore ($800,000 to $3 million). The fund will back 8-10 companies, Khan told Techcircle.in.

Khan also mentioned that Orios has already identified its first potential investment. "This is a software product startup based out of Mumbai and is targeting the global markets. We will disclose the name in two-three weeks," Khan said.

Khan, a known name in the Indian startup investment space, has invested in 19 global software companies that include Druva, OlaCabs, Jigsee (now VuClip), Unbxd, Pretty Secrets, Reach Accountant, Sapience, DocSuggest, IndiaCollegeSearch and Snaplion. Khan is currently part of seven boards as a member/adviser/observer. Prior to starting Orios, Khan was an entrepreneur for over 20 years and built three successful businesses.

"Orios extends my work since 2008 of backing these entrepreneurs not just with capital but more importantly with strategic and operational guidance to build rapidly growing business and emerge as market leaders in their domains. Today the Indian internet is witnessing phenomenal growth which will see over half a billion people online by 2020 and over hundred million people shopping online providing a ready opportunity for dynamic entrepreneurs to cater to these growing needs," Khan said.

Other key people behind Orios include Farooq Oomerbhoy (co-founder and principal) and Mayur Padia (partner and CFO). Orios' advisory board members include Rajan Anandan (managing director of Google India), Anupam Mittal (founder and CEO of People Group which owns businesses such as Shaadi.com), Shujaat Khan (Blue River Capital), and Raj Chinai (Harvard Angels).

The space is increasingly seeing huge momentum. Other venture capital (VC) firms, which have raised money from ultra high net-worth individuals include Blume Ventures, Kae Capital, YourNest Angel Fund, Ivy-Cap Ventures and India Quotient Fund.

(Edited by Joby Puthuparampil Johnson)