IvyCap Fund 2 Hits the Tar­get; Raises 300 cr

The Economic Times - - Disruption: - Payal.Gan­guly@ times­group.com

Bengaluru: Ven­ture Cap­i­tal firm IvyCap Ven­tures has achieved the first close for its sec­ond fund of .₹ 600 crore. The fund raised .₹ 300 crore with spon­sor in­vestor IIT Alumni Trust chip­ping in .₹ 120 crore.

In­sti­tu­tional in­vestors from the first fund have also ex­tended their com­mit­ment to the new fund.

Fo­cused on early and growth-stage star­tups founded by alumni of premier in­sti­tu­tions like IITs and IIMs, Ivy Cap Fund 2 has al­ready in­vested in TaskBob and FT­Cash.

IvyCap ex­pects to com­plete the fund­ing round by Septem­ber. “We have ear­marked 90% of our Fund 2 for in­vest­ments in se­ries A and B rounds. We have also set aside a cor­pus of .₹ 60 crore for IvyCap Startup Plat­form,” Vikram Gupta, man­ag­ing part­ner at IvyCap said.

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