Cactus Venture Partners Marks Final Close of Fund 1 with INR 630 Crores

Cactus Venture Partners Marks Final Close of Fund 1 with INR 630 Crores

India, 08 February 2024: Cactus Venture Partners (CVP), an India-focused, early growth stage venture investment firm that backs purpose-driven entrepreneurs, announced the successful final close of its first fund. The fund has secured a total corpus of more than INR 630 crores. This is one of the largest first-time venture capital funds raised in the country.

CVP has received capital commitments from a diverse investor base, with 60% originating from domestic sources and the remaining 40% from international Limited Partners (LPs), predominantly from the USA, Singapore, EU, and the UK. Leading Indian development financial Institutions, such as SIDBI, Self-Reliant India Fund (SRI Fund), and the UP Startup Fund, backed the emerging manager co-founded by General Partners, Anurag Goel, Amit Sharma, and Rajeev Kalambi. Sizeable commitments were received from international and domestic Family Offices and Ultra High Net Worth Individuals (UHNIs).

Cactus Venture Partners has a broad sector focus, with a primary interest in climate tech, health tech, and B2B SaaS businesses. The firm is committed to contributing to the growth and success of innovative ventures that have the potential to revolutionize industries, improve lives, and positively impact the environment.

Commenting on the fund closing, Rajeev Kalambi, General Partner, Cactus Venture Partners said, “The overwhelming support from both domestic and international investors underscores the growing confidence in the Indian startup ecosystem. We are immensely grateful to our LPs for their trust and confidence in our ability to deliver on our stated investment strategy.

Cactus Venture Partners is a strategic partner to our portfolio companies. Our Growth Acceleration Playbook (GAP) is designed to supplement founder efforts, providing them with the resources and guidance needed to scale successfully. We remain committed to fostering the growth of innovative startups that align with our vision of creating a positive impact on a global scale.”

Amit Sharma, General Partner, Cactus Venture Partners said, ” The success of our fundraising effort underscores the confidence placed in our ability to identify and nurture high-potential startups. We follow a disciplined investment approach focused on building a high-quality high-conviction portfolio. We are committed to working with our purpose-driven founder partners to help them realize their innovative vision with not just capital, but all the strategic resources at our disposal. We would like to express our gratitude to our investors as well as our portfolio companies to partner with us. As we look ahead, our strategic imperative is to not only expand our portfolio but to position our investments for sustainable, long-term success.”

Cactus Venture Partners will focus on Series A and early Series B fundraising stages, targeting companies that have established Product-Market Fit (PMF). While the primary investment focus is on Indian startups, CVP actively encourages and supports portfolio companies to expand internationally. With 5 companies in its current portfolio, CVP is targeting to make an additional 8-10 investments over the next 1-2 years.