Cactus Venture Partners (CVP), an Indian venture capital firm, closed its first fund with over US $76 million, making it one of the country’s largest inaugural venture capital funds.
The fund’s investor base is composed of 60% domestic limited partners. These comprise development finance organizations like the UP-Startup Fund, SRI Fund, and Self-Reliant India Fund (SRI Fund).
Although CVP stated that it has a broad sector focus, its primary interests are in B2B software-as-a-service, healthtech, and climate tech companies. The company focuses on early-stage series B and series A startups.
CVP currently owns five businesses, including the international apparel brand AMPM and the cleantech startup Lohum. Over the next year or two, the fund intends to make eight to ten additional investments, mostly in Indian startups but also with an eye toward global expansion.
Amit Sharma (formerly of Alibaba-backed eWTP Capital), Anurag Goel, and former investment banker Rajeev Kalambi are the fund’s general partners.
