California and Karnataka-based company invests primarily in India.
By Deepak Chitnis
WASHINGTON, DC: Inventus Capital Partners, a fast-growing investment company with offices in California and Bangalore, has raised $106 million in its second round of fundraising, the company announced last week.
The firm, founded in 1993 and featuring five Indians on its six-person board, said that it plans to use the money to invest in “digital services” rather than tangible products, and will continue to invest heavily in both the US and India.
The $106 million is double the total amount of funds they previously had, allowing the firm much more breathing room and the ability to invest even more into projects it deems worthy.
The company is primarily interested in ‘service-based startups’ in India, adding to the over 100 businesses the firm has already invested in across the subcontinent.
Inventus has already begun investing some of that $106 million haul. A portion of it went towards their backing of Espresso Logic, a data infrastructure company based in Santa Clara, California and also run by an Indian American, R. Paul Singh. With their first round of funds, Inventus was able to back 18 companies; with their new sum they hope to raise that number as high as 25.
Founded in 1993, Inventus has $30.3 billion in value creation to-date. Along with Dougery, its managing directors are Kanwal Rekhi, Parag Dhol, and Samir Kumar. Its two principals are Manu Rekhi and Rutvik Doshi. Last year, it was voted the Best Early-Stage Venture Capital Firm in India at the Venture Intelligence APEX Awards in Mumbai.
To contact the author, email to deepakchitnis@americanbazaaronline.com