Mumbai-based investment firm Zodius Capital has raised $110 million for making investments in Internet and technology companies. It plans to invest $11-16 million in 8-10 Indian startups by end of this year. This is Zodius’s first tranche of its $500 million fundraising partnership with Avendus Capital to set up Zodius Capital II.
As per a report by ET, the firm also plans to raise the second tranche by the end of this year or early next year. In 2011, it launched Zodius Capital I, from which it had invested in digital marketing firm BORN (earlier known as Group FMG), artist and event management venture Only Much Louder, big data firm Antuit and financial research firm ZyFin, among others.
The firm has already made 2 investments from its latest fund; it led $16 million in AppsDaily Solutions, and in 2014, it invested around $30 million in online grocery BigBasket along with Helion Venture Partners.
Indian startups have been drawing the attention of VC firms, and many of these including Sequoia Capital, Mayfield, SAIF Partners, and Accel Partners have already closed funds to invest in startups in India. Other firms like Helion Venture, Blume Ventures, Nexus Venture, and IDG Ventures are also planning to raise new funds.