IvyCap Ventures Successfully Secures ₹2,100 Crore for Fund 3

Preeti Bali / 12:08 pm / May 3, 2024

IvyCap Ventures Advisors Private Limited, a prominent early-stage venture capital firm, has achieved a significant milestone by officially closing its Fund III at a staggering ₹2,100 crore. This accomplishment marks a substantial leap for the firm, propelling its Assets Under Management (AUM) to a remarkable ₹5,000 crore (approximately $600 million).

Fund III Makes Active Deployments and Strengthens Existing Portfolio

Fund III has already begun actively deploying capital, with 40% of the fund strategically invested in innovative companies across diverse sectors. Some notable examples include Celcius, Agraga, Eggoz, ZestIot, Snitch, GradRight, Flexifyme,, and Dhruva Space. Furthermore, the fund demonstrates a commitment to nurturing existing investments by providing continued support to portfolio companies from previous funds, such as LendBox, Miko, Biryani By Kilo, and BlueStone.

IvyCap Expresses Gratitude to Investors and Team

Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, expressed his appreciation, stating, “This achievement is a testament to the unwavering trust placed in us by our investors across all our Funds. We are incredibly fortunate to have a remarkable team who have been instrumental in IvyCap Ventures’ journey. We are also immensely grateful to our Advisory Board for their steadfast support since the firm’s inception. We have always championed the potential of domestic capital, and we feel privileged to have the invaluable backing of India’s leading institutional investors across all our funds.”

Strong Investor Confidence Fuels Fund III

Significantly, around 60% of the capital raised for Fund III originated from existing investors who participated in IvyCap Ventures’ Funds I and II. This overwhelming support underscores the strong confidence and unwavering commitment of the firm’s investor base.

Investment Strategy Outlined for Fund III

The roadmap for the new fund entails strategic allocation of investments across 25 Series A companies. The average initial investment range is anticipated to be between ₹30 crore and ₹50 crore. Notably, approximately 20% of the fund will be earmarked to bolster existing portfolio companies by serving as a co-investor in their subsequent funding rounds.

IvyCamp Platform Launched to Foster Early-Stage Innovation

Further demonstrating its commitment to the Indian startup ecosystem, IvyCap Ventures has allocated ₹100 crore for investments in seed-stage companies through its dedicated platform, IvyCamp. This initiative aims to cultivate a collaborative environment by working extensively with partners such as IITs, IIMs, incubation centers, accelerators, and corporates. This fosters early-stage innovation and empowers promising entrepreneurial talent.

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