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Seedfund may raise $50 million in second fund

Mumbai-based Seedfund, the early stage venture capital fund launched in 2006, is on its way to raise a $50 million fund that would be invested in 15 companies, according to Economic Times. A few days ago, Business Standard reported that Seedfund is raising a $30 million fund.

Seedfund currently has a $10-15 million fund, and has raised money from investors like Google, Reliance ADAG, Motorola and US based venture capital funds like Sierra Ventures and Mayfield.

Mumbai-based Seedfund, the early stage venture capital fund launched in 2006, is on its way to raise a $50 million fund that would be invested in 15 companies, according to Economic Times. A few days ago, Business Standard reported that Seedfund is raising a $30 million fund.

Seedfund currently has a $10-15 million fund, and has raised money from investors like Google, Reliance ADAG, Motorola and US based venture capital funds like Sierra Ventures and Mayfield.

Seedfund’s target sectors have been internet, media, mobile, telecom, retail and other consumer-facing plays. So far the fund has invested in nine startups including Printo (a photo printing site), CarWale (an auto portal), RedBus (an online bus-ticketing site) and Afaqs (an online media company). [Source: VC Circle]

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