Early stage investment fund, Inventus Capital has announced that it has raised a second fund of $106 million to back US-India startups. A release from Inventus said that they hope to back 20-25 companies with the over-subscribed second fund.
Inventus has so far invested in 18 companies including, Naspers-acquired online ticketing company, RedBus. The early stage investment company has already started investing from the second fund. Other successful companies that Inventus had invested in include ViVu that was acquired by Polycom, and Sierra Atlantic that was acquired by Hitachi Consulting.
Inventus which has teams in Silicon Valley and Bangalore, has mentored and financed over 120 young companies. The company usually leads the first institutional round of funding for startups that focus on digital services. Inventus claims to invest up to $10 million as a company grows.