Cactus Venture Partners (CVP), an India-focused, early growth stage venture investment firm that backs purpose-driven entrepreneurs, announced the final close of its first fund. The fund has secured a total corpus of more than Rs 630 crore.
CVP has received capital commitments with 60% originating from domestic sources and the remaining 40% from international Limited Partners (LPs), predominantly from the USA, Singapore, EU, and the UK.
In India, the fund received commitments from SIDBI, Self-Reliant India Fund (SRI Fund), and the UP Startup Fund. Sizeable commitments were received from international and domestic Family Offices and Ultra High Net Worth Individuals (UHNIs).
Cactus Venture Partners has a broad sector focus, with a primary interest in climate tech, health tech, and B2B SaaS businesses.
Cactus Venture Partners said that it will focus on Series A and early Series B fundraising stages, targeting companies that have established product-market fit (PMF). While the primary investment focus is on Indian startups, CVP also encourages and supports portfolio companies to expand internationally. With 5 companies in its current portfolio, CVP is targeting to make an additional 8-10 investments over the next 1-2 years.