Endiya Partners is a seed and early-stageventure capital firm investing in IP-led Indian product start-ups that are globally relevant.
Endiya Fund II has a corpus target of Rs 500 crore ($65 million) and has already completed its first close at Rs 280 crore ($40 million) in May 2019.
Endiya Fund II will seek to invest in 16 - 20 start-ups, with an initial cheque size of $ 500,000 to $ one million in Seed/Pre-series A rounds and a planned investment of up to $5 million per company.
"We are excited to have won IFCs support and backing. We value IFC's vast global presence across geographies that could offer future expansion markets for our portfolio companies. We are also delighted to have a co-investment envelope from IFC that could be used to support our investees as they scale,"saidSateesh Andra, partner at Endiya Partners.
Endiya's Fund I was a 2016 vintage fund with Rs 175 crore ($25 million) corpus and invested in 12 portfolio companies.