Early stage VC Endiya partners eyes Rs 500 Cr worth Fund II

Early stage venture capital fund Endiya partners that invests in technology, healthcare & consumer services is planning to raise around Rs 500 crore for its second fund.

With a prime focus on seed and pre-Series A deals, the Hyderabad-based firm had closed Fund I at Rs 175 crore. Endiya's original plan was to raise Rs 150 crore with a green-shoe option of Rs 50 crore.

According to Endiya's managing director Sateesh Andra, the latest fund will be deployed in the follow-on funding rounds of its portfolio companies besides expanding focus on the life sciences sector.

Endiya expects to close Rs 500 crore round for Fund-II by March and planning to expand its team and set up an office in Bengaluru within the same time period, reports ET.

Going further, it is planning to invest Rs 30-40 crore each in almost all of its portfolio startups that includes Darwinbox, Cygni Energy and eKincare, Curefit, Kissht, SigTuple, InnerChef, and several others.

Endiya partners also focus on startups who have a base outside the country such as Silicon Valley, Singapore, and other regions.

Launched in 2015 by Andra, Ramesh Byrapaneni and Abhishek Srivastava, Endiya gives privilege to startups in the field of Software as a Service (SaaS), mobile, security, IoT, fintech, digital health, and medical devices.

During a recent conversation with TechCircle, Andra claimed that 60 per cent of Endiya's Fund I has been exhausted and it will only invest in one or two startups and rest fund will be reserved for follow-on rounds.