Venture capital firm WaterBridge, an early stage investor, has raised $30 million in its final close of maiden round. With this round, the VC firm has raised a total of $35 million. It raised $5 million in the first round.
The VC firm has got the backing of government-owned SIDBI, global family offices from US, Hong Kong and Singapore, along with high net-worth professionals from the technology sector who are as its Partners also.
Led by Manish Kheterpal, Sarbvir Singh, Ravi Kaushik and Ashish Jain, WaterBridge primarily invests around Rs 3 to 4 crores in passionate entrepreneurs who are solving problems for consumers and businesses with tech as the exponential enabler.
The SEBI-registered Investment firm is targeting 15-20 investments, across segments, including, B2B analytics, social, education, healthcare government and science and technology.
WaterBridge has invested in many companies such as Unacademy, DataWeave, and ZipLoan, amongst others.
Numerous investment vehicles are also looking to place early-stage bets on India’s startup ventures.
Other early stage ventures such as Blume Ventures and Kalaari Capital are also on the road to raise their next investments.
Last year, Mumbai-based early stage investor Kae Capital had closed its second fund with a corpus of $53 million. Earlier, it raised its maiden $25 million fund in March 2012. Previously, it has invested in his personal capacity in companies such as Myntra, ad-tech company InMobi and data analytics firm Fractal Analytics.
According to a report by Venture Intelligence, venture capital in India plunged to a three-year low in the second quarter of 2017. VC investments slid to 78 deals worth $275 million during the three months ended June 2017, which is 25 per cent lower compared to the same period in 2016. VC activity in Q2 2017 was also 7 per cent lower than the previous quarter, which recorded 84 deals worth $349 million.
The story was first reported by ET