MUMBAI, Apr 29: Seed Fund Advisors, a venture capital (VC) fund that invests in early-stage companies, is planning to invest around Rs 80 crore in the current fiscal.
“We are planning to invest around Rs 80 crore in the current financial year, which will be done across all sectors,” Seed Fund Managing Partner Mahesh Murthy told.
The investments will be done from the VC firm’s second fund, Seed Fund-II. The sector-agnostic fund house has two funds. While Seed Fund-I has a corpus of Rs 65 crore, Seed Fund-II has a total fund of Rs 250 crore.
The early stage VC fund had already exhausted the first fund and is currently under divestment phase. From the second fund, it has given commitment of Rs 170 crore to various entities as of now and rest Rs 80 crore will be invested in this fiscal.
The VC firm, which has raised money from investors including pension funds of the Scandinavian countries and Commonwealth funds, recently invested around Rs 10 crore in a SMS search engine company named ‘Innoz’.
“The fund searches for innovative ideas and entrepreneurs to fund and ‘Innoz’ is one such company. At present, the company gets around 1 million searches a day from customers,” Murthy said.
Referring to divestment plans from existing portfolio companies, he said the company had exited from firms like Carwale and Redbus among others and made sounds return out of the investments.
“The returns were pretty attractive from these exits and we hope to maintain the trend in the future,” he said.
According to the company website, the portfolio of the early stage fund house comprises brand like Afaqs, Edusports and Fetise among others. (PTI)
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