International South specialist enterprise capital agency has launched its $100-million (Rs 830 crore roughly) Capria India Fund III, mentioned a high govt. The fund, structured as a master-feeder funding, will see participation from each Indian and world traders.
It has additionally accounted for a greenshoe choice of as much as $125 million.
The fund will put money into 25-30 startups throughout seed and pre-Sequence A rounds, with the typical cheque measurement starting from $500,000 to $2 million. It would again companies aimed toward rising the Indian center class throughout HRtech, fintech, SaaS, and local weather sectors. Capria may even consider investments within the manufacturing, agritech, and business-to-business sectors.
The fund will proceed to have a look at the usage of utilized GenAI in its portfolio corporations.
With the brand new fund, Capria plans to put aside 25% of the fund for follow-on investments in portfolio corporations from its earlier funds to faucet into late-stage alternatives and provides earlier returns to its Restricted Companions (LPs).
“Not solely will we put money into new corporations, we may even put money into late-stage corporations from our predecessor funds to return capital at excessive IRRs (Inner Fee of Return). India has confronted a problem of giving early exits, despite the fact that the TVPIs (Complete Worth to Paid-In capital) have been wholesome. Our robust try might be to handle that, now that now we have a powerful portfolio from earlier funds,” Surya Mantha, Managing Associate at Capria Ventures, informed YourStory.
In October 2024, Capria had raised Rs 153 crore (roughly $19 million) for the India Alternative Fund to put money into breakout portfolio corporations from Fund I and II.
The fund, with a master-feeder construction, has each Indian and international LPs, with home capital prone to make up for 60% of the contribution, added Mantha.
“We’re getting good curiosity from our current investor base in addition to new traders. It is usually indicative of the robust curiosity in India and the alternatives right here over the subsequent decade, which is sort of gratifying,” mentioned Mantha. He added that the VC agency was trying on the first shut of the brand new fund by March 2025.
SIDBI was an anchor investor in Capria’s earlier fund, aside from institutional LPs just like the Michael and Susan Dell Basis in addition to household workplaces like Aarin Capital and Invoice Gates’ household workplace.
“Given the strong public exercise by way of IPOs, there’s a want to take part early on within the worth chain in personal belongings from Indian household workplaces and HNIs. This market has deepened significantly. There’s additionally eager curiosity from abroad traders together with Japan, Singapore and GCC, aside from the US markets,” Mantha informed YourStory.
Capria at the moment has Rs 670 crore in belongings beneath administration (AUM) as a part of its three India funds which have invested in a portfolio of over 40 startups. In 2023, Indian early-stage expertise fund Unitus Ventures mixed with its US-based affiliate arm, Capria Ventures, to type a multi-stage portfolio entity.
In April this 12 months, Capria recorded a full-cash exit from the work-fulfilment platform , which was acquired by Japanese conglomerate, Mynavi Company. The agency has additionally invested in agritech firm from its International South Fund II in 2024. Different portfolio corporations of Capria embody the workforce administration platform , diagnostics platform , and enterprise fintech platform .
