IFC to come in as limited partner in Endiya Partners’ new fund
Photo Credit:

International Finance Corporation (IFC) plans to invest in venture capital firm Endiya Partners' new fund, the World Bank's private-sector investment arm said on Friday.

IFC said in a statement that it will invest $10 million (around Rs 75 crore) in the venture capital firm's second fund -- Endiya Partners Fund II.

IFC's board will discuss the investment proposal on June 22, 2020.

Endiya Partners, founded in 2015 by Sateesh Andra and Ramesh B Byrapaneni, had marked the first close of its second fund at $40 million in May last year. 

The second fund has a corpus target of Rs 500 crore ($70 million).

The second fund had received commitments from most of Endiya’s existing limited partners (LPs) or investors. Its LP pool includes fund of funds, family offices, global corporates and entrepreneurs.

The new fund's investment strategy will remain similar to its previous fund with a focus on business-to-business (B2B) startups in the technology and healthcare sectors and select bets in the consumer segment.

The second fund will invest between $500,000 and $1.5 million in the seed and pre-Series A rounds across 15-16 startups. It will commit up to $5 million in a single company.

Endiya Partners had hit the final close of its debut fund at Rs 175 crore (around $26 million) in early 2017.

The first fund made 12 investments including early bets on fintech startup Kissht, medical-technology startup SigTuple and enterprise HR management platform Darwinbox.

IFC's bets on PE and VC funds in India

IFC has an active LP portfolio in India where it backs private equity and VC funds. It also makes direct PE-style investments and lends to companies in the country.

Just last month, IFC proposed to invest $10 million (around Rs 76 crore) in a new private equity fund of India Alternatives.

Last year, IFC planned to invest $20 million in VC firm Chiratae Ventures' new fund; $25 million in the second fund of healthcare-focused PE firm Quadria Capital; and $12 million in Accion Quona Inclusion Fund.

IFC also proposed to come in as an LP in the debut VC fund of investment firm A91 Partners, floated by former executives at Sequoia Capital. A91 Partners exceeded the corpus target for debut fund last year.

Leave Your Comment(s)