Chennai-based venture capital firm, Ventureast has completed the first closing of its sixth fund, Ventureast Proactive Fund II, raising $85 million from existing as well as new investors. The company plans to raise another $65 million as part of the fund by end of March 2017.
According to the company, the funds will be used to invest in seed and early-stage technology businesses, especially in finance and healthcare space. The funds will be deployed over the course of next three years, where Ventureast intends to invest in 12-13 startups every year.
