Endiya Partners, a venture capital fund, plans to raise Rs 800 crore to Rs 1,000 crore ($100 million to $125 million) for its third fund. The fund has $100 million under management.
The company’s inaugural $40 million fund earned a distributed paid-in (DPI) capital return of more than 90% for its LPs. This metric calculates the amount of invested principal returned to LPs through exits, excluding any carried interest generated by the venture capital company.
According to Endiya, the revenues will be used with the same investment philosophy as its first and second funds, and will be deployed within the next three to four months.
Endiya Partners was founded in 2015 and invests in startups in the deep tech, fabless semiconductors, edge artificial intelligence & mobility, SaaS, healthcare, digital health, and life sciences sectors.
The fund will invest in about 18-20 enterprises. According to the Hyderabad-based company, it divides its cheques as follows: 30-40% of any money is deployed as fresh investments, 20-30% as Series A cheques in the same group of enterprises, and 30% in select Series B stages of investment.
Endiya Partners has funded Darwinbox, Kissht, SigTuple, Zluri, Qapita, Eyestem, Grip Invest, Myelin Foundry, and BluJAerospace.
