Orios Venture Partners, India’s leading technology venture capital firm, has announced a final close for its Select Fund I. This is the third fund raised by the venture capital firm, they had earlier launched and closed two early stage Funds in 2015 and 2018. A pure technology fund, their investment areas include new commerce, technology-led financial inclusion, new media, gaming consumer and agritech amongst others.
Rajeev Suri, Managing Partner, said they are delighted to have raised this fund in record time, despite COVID-19 lockdowns. “India is seeing unprecedented growth in the technology space and we will continue to be important players in it,” he said.
Anup Jain, Managing Partner, said 2021 will go down in history as the year India’s tech IPO story started. “With our portfolio company Nazara having IPOed and Pharmeasy & MobiKwik on course to an IPO, along with half a dozen other companies, we are tremendously excited about what the future holds.”
Rehan Yar Khan, Managing Partner, said partnering closely with tech entrepreneurs has always been a hallmark for Orios. “Our proprietary #Misfits program graduates companies into Series A and the Select Fund aims to continue that partnership in the midstages to take the companies to unicorn valuations and IPOs, all along creating alpha returns for our LPs.”
Orios’ Select Fund I invests between USD 4 million and USD 8 million per company. It primarily does follow-on investments into its existing companies, which have proven to be winners; and also late stage to pre-IPO companies whose founders it knows well. So far, the Fund has invested in Series D & E rounds of Pharmeasy, which has now announced plans to launch its IPO in the next nine months, Series B & C rounds of Country Delight and the Series C round of GoMechanic. It has also invested in Mobikwik’s recent round in March 2021 which has already seen follow-on investments at +40% from Abu Dhabi Investment Authority (ADIA); and the pre-IPO of Nazara technologies.
The firm’s portfolio companies also include gaming company Zupee, agritech company Krishify, digital health company Beato, retail tech company Gully Network, fintech company MoneyOnClick and EV-battery-as-a-service company Battery Smart.