Venture capital firm Endiya Partners, renowned for its backing of successful ventures like Darwinbox and Cult.fit, is gearing up to unveil its third fund with a substantial corpus ranging between INR 800 Cr and INR 1,000 Cr ($100-$125 Mn).
Focus Areas
The upcoming fund is poised to target startups operating in a spectrum of industries, with a particular emphasis on the digital sector, deeptech, health, software-as-a-service (SaaS), and artificial intelligence (AI), as reported by Moneycontrol.
Strategic Investment Approach
Founder Sateesh Andra revealed that Endiya Partners intends to commence investments from Fund III by March, aiming to support approximately 18-20 promising companies. The firm, which currently manages two funds, has already deployed investments totaling $7-$8 Mn into startups during their growth phases.
Past Success and Future Endeavors
In 2021, Endiya Partners successfully raised INR 17.5 Cr from the Biotechnology Industry Research Assistance Council’s (BIRAC) AcE Fund, marking the final close of its INR 500 Cr Fund II. Presently, the firm is actively channeling capital from Fund II into startups across various sectors, including SaaS, information security, semiconductors, healthcare & life sciences, and financial services, showcasing a diverse investment strategy.
Continued Commitment to Innovation
Since its establishment in 2016 by Sateesh Andra, Ramesh Byrapaneni, and Abhishek Srivastava, Endiya Partners has been instrumental in supporting numerous Indian B2B startups in burgeoning sectors such as healthtech, enterprise SaaS, cybersecurity, and others.
Industry Trends
The launch of Endiya Partners' third fund comes amid a dynamic landscape in the venture capital sector. In a recent report by Inc42, it was highlighted that 2023 witnessed the announcement and introduction of 64 funds, including venture capital funds, micro-funds, and corporate VC funds, amounting to over $5.6 Bn. Comparatively, 2022 saw the launch of 126 funds, raising over $18 Bn for startup investments.
