Dutch venture capital firm Orient Growth Ventures has achieved a significant milestone with the closure of its second India and Southeast Asia (SEA) fund, amounting to a substantial $90 million investment.
Expanding Investment Horizons
Orient Growth Ventures, renowned as a limited partner in various venture capital firms such as Blume Ventures, Jungle Ventures, and Chiratae Ventures, has garnered support from both existing and new limited partners. Notably, European high net worth individuals, tech entrepreneurs, and family offices from Europe and Singapore have contributed to this latest fund.
Founder and Managing Partner Rinze Verbeek shared insights into the firm's strategic vision, highlighting its commitment to expanding its investment portfolio in India by supporting early-stage VCs. Verbeek emphasized that the new fund continues to concentrate on early-stage venture capital opportunities in India and Southeast Asia, reflecting the promising growth potential within these regions.
Diverse Investment Landscape
While Orient Growth Ventures remains sector-agnostic, Verbeek acknowledged the increasing interest in sectors such as electric vehicles (EV), climate, and agritech. This diversified approach aligns with the firm's objective of capitalizing on market opportunities driven by India's robust economic growth and the maturation of its VC ecosystem.
Track Record and Future Outlook
Orient's first India and SEA-focused fund, raised in 2020, demonstrated a promising trajectory, tracking a commendable 23% rate of return. Despite being in its early stages, the firm remains optimistic about achieving its targets in the coming years.
Revival of Investment Landscape
The closure of Orient Growth Ventures' second fund signifies a positive turn for the investment ecosystem, indicating a revival in 2024 with various fund launches and closures. Noteworthy developments include the recent closure of Upekkha's fund at $15 million, GrowthCap Ventures' maiden fund focused on fintech, deeptech, and SaaS sectors, and Cactus Venture Partners' successful close of its early-stage fund.