India: IvyCap Ventures eyes final close of third fund at $250m by Oct-end

IvyCap Ventures founder and managing partner Vikram Gupta

Homegrown venture capital firm IvyCap Ventures, which has backed Indian startups including Purplle, Bewakoof, Biryani by Kilo and BlueStone, is expected to hit the final close of its third fund at $250 million (about Rs 2,000 crore) by October end, its founder and managing partner Vikram Gupta told DealStreetAsia.

IvyCap Ventures Trust Fund III, which was launched last year, raised $214 million in the first close in February this year. About 15% of the fund has already been deployed.

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