India: Early-stage VC Endiya Partners secures final close of $75m second fund

Endiya Team (from Left-to-Right): AbhiramKatta, Abhishek Srivastava, Dr Ramesh Byrapneni, Sateesh Andra

Early-stage venture capital fund Endiya Partners has closed its $75 million (Rs500 crore) second fund with the latest commitment of about $2.5 million from The Biotechnology Innovation Fund – AcE(Accelerating Entrepreneurs) Fund.

The biotechnology fund is backed by the Indian government’s Biotechnology Industry Research Assistance Council (BIRAC).

Endiya Fund II had already reached its first close at Rs280 crore in May 2019. Other investors in the fund include Japan’s Nippon India Digital Innovation AIF Fund and the World Bank’s International Financial Corporation (IFC).

The fund seeks to invest in about 18-20 startups, with a cheque size of about $1-1.5 million in Seed/Pre-series A rounds, and will deploy a total of $4-5 million for a follow-on investment.

Headquartered in Hyderabad, Endiya Partners is a seed- and early-stage venture capital firm investing in IP-led Indian product startups that are globally relevant. Its current portfolio includes Darwinbox, Steradian Semiconductors, Kissht, SigTuple, and Myelin Foundry.

The firm said it would continue to make early-stage investments in the business-to-business (B2B) segment, with a focus on healthcare and life sciences, apart from software as a service (SaaS), cybersecurity, and other allied sectors.

Endiya’s Fund I was a 2016 vintage fund with Rs175-crore corpus, and had invested in about 12 companies.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.