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Zodius Capital raises Rs 700 Cr for investments in internet, tech companies

Investment firm Zodius Capital has raised Rs 700 crore for growth capital investments in internet and technology companies, closing the first tranche of its $500-million fundraising partnership with Avendus Capital, reports the Economic Times

Investment firm Zodius Capital has raised Rs 700 crore for growth capital investments in internet and technology companies, closing the first tranche of its $500-million fundraising partnership with Avendus Capital, reports the Economic Times

Mumbai-based Zodius, led by outsourcing firm WNS’ cofounder Neeraj Bhargava, reportedly plans to deploy Rs 75-100 crore each in 8-10 enterprise software and consumer technology companies by end of this year, exhausting the entire corpus. 

“This is our first fund closing, and we will be back on the road to raise the second tranche by the end of this year or early next year,” Bhargava, senior MD and CEO at Zodius, told the Economic Times. “The Indian entrepreneurship genie is out of the bottle and there is a lot of dealflow across the board.” 

With the Indian startup ecosystem maturing fast, a space for specialised growth-stage investors is emerging. In April 2014, Zodius partnered with Avendus to raise a total of $500 million across three funds. 

Prior to that, Zodius had independently raised a fund of an undisclosed size, from which it invested in digital marketing firm BORN (earlier known as Group FMG), artist and event management venture Only Much Louder, big data firm Antuit and financial research firm ZyFin, among others. 

The firm has already made two investments from its latest fund, raised in nine months from both domestic and overseas investors,. In March, it led a Rs 100-crore investment in AppsDaily Solutions, which uses the consumer goods distribution model to sell mobile applications. 

According to the Economic Times, in 2014, it invested Rs 200 crore along with Helion Venture Partners in online grocery BigBasket. Zodius expects segments like food-tech, finance-tech and digital media to gain traction. It expects software companies to scale up as well. 

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