Synopsis:
IvyCap Ventures has completed its third fund, surpassing its target by securing a sizable ₹2,100 crore in funding. Despite these setbacks, they completed the fund’s ultimate close after nearly a year and a half of cultivating relationships with financial backers. The fund primarily allocates capital to early-stage companies in the clean, space, and climate tech industries. IvyCap continues to foster growth in the Indian startup scene while concentrating on M&A exits.
IvyCap Ventures has some exciting news! They have successfully concluded the fundraising of their third fund, having secured an astounding ₹2,100 crore from investors. That even exceeds their ₹1,500 crore initial goal. The founder of IvyCap, Vikram Gupta, disclosed that they raised extra money by using a strategic financial tool called a greenshoe option, showcasing their financial acumen and innovative approach.
- Addressing the fund:
- Size: Around ₹2,100 crores.
- Focus: They seek promising enterprises led by forward-thinking leaders with ambitious aims.
However, reaching this milestone was not without its share of challenges. IvyCap Ventures embarked on this fundraising journey in February 2022 with a modest ₹1,608 crore. Over the next few months, they set their sights on a higher target, aiming to secure ₹2,000–2,500 crore. Despite the hurdles, they persevered and finally sealed the deal after a rigorous eighteen months of negotiations with investors, a testament to their unwavering commitment.
As for where this money is going, IvyCap has already put 40% of it to work. The rest is earmarked for backing more startups over the next few years, with a chunk set aside to double their current investments. They are particularly interested in industries including agroecology, Logistics, Fast Fashion, Climate Tech, Clean Tech, and Space Tech (they recently joined Dhruva, a business focusing on space).
Lately, IvyCap has been exhibiting wise judgment. They have profited handsomely from their investments in businesses, including Sokratis, Pharmarack, Purplle, and Clovia, demonstrating their keen investment strategies. Instead of just selling shares, they prefer the merger and acquisition route, a testament to their long-term vision and commitment to the businesses they invest in.
In summary, IvyCap Ventures’ success in closing its third fund shows how committed the company is to promoting business and creating a framework for India’s development.
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