Cactus Venture Partners raises Rs 630 for Startup Fund

Cactus Venture Partners closes maiden fund at Rs 630 crore

Cactus Venture Partners, an India-focused early growth stage venture capital firm, has announced the final close of its maiden fund at Rs 630 crore ($75.8 million). The fund will invest in startups in health tech, climate tech and B2B SaaS sectors, with a cheque size of $2-5 million.

The Mumbai-based VC firm has secured 60 per cent of the capital commitment from domestic sources and the remaining from international limited partners (LPs) including family offices and ultra-high net worth individuals in the US, Singapore, EU, and the UK. In India, the fund received commitments from SIDBI, Self-Reliant India Fund (SRI Fund), and the UP Startup Fund.

Sector focus and portfolio of Cactus Venture Partners

The fund has a broad sector focus, with a primary interest in climate tech, health tech, and B2B SaaS businesses. The fund will target companies that have established product-market fit and are looking to scale up their operations and expand internationally.

The fund currently has five companies in its portfolio, namely Kapture, Vitraya, AMPM, Auric, and Lohum. It is looking to make an additional 8-10 investments over the next one to two years.

Founders and vision

Anurag Goel, founder and general partner of Cactus Venture Partners, said, “We are delighted to announce the final close of our first fund. We are grateful to our LPs for their trust and support. We believe that India is at an inflection point of innovation and entrepreneurship, and we are excited to partner with purpose-driven founders who are building impactful solutions for India and the world.”

Cactus Venture Partners was founded in 2020 by Anurag Goel, Rajeev Kalambi and Ravi Kaushik. The three partners have over 50 years of combined experience in entrepreneurship, investing and operating roles across sectors such as consumer internet, enterprise software, healthcare and education.

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