Venture capital fund Endiya Partners is set to launch its third fund with a corpus between Rs 800 crore and Rs 1,000 crore ($100 million and $125 million). The fund holds $100 million under management.
The company’s first fund of $40 million had generated a distributed paid-in (DPI) capital return of over 90% to its LPs. This metric measures the amount of invested principal returned to LPs through exits sans any carried interest earned by the venture capital firm.
According to Endiya, the proceeds will be utilised with the same investment thesis as its first and second funds, and will start deploying in the next three-four months.
Founded in 2015, Endiya Partners invests in companies operating in the deep tech, fabless semiconductors, edge artificial intelligence & mobility, SaaS, healthcare, digital health, and life sciences sectors.
The fund will invest in around 18-20 companies. According to the Hyderabad-based company, it divides its cheques by deploying about 30-40% of any of its fund as new investments, 20-30% of it as Series A cheques in the same set of companies and then about 30% of the fund in select Series B stages of investments.
Endiya Partners has backed Darwinbox, Kissht, SigTuple, Zluri, Qapita, Eyestem, Grip Invest, Myelin Foundry and BluJAerospace.
