IndusAge raises $23m from family offices, HNIs; makes first India investment

Visual from Clairvolex website

Silicon Valley-based venture capital fund IndusAge, promoted by former Intel Capital head Sriram Vishwanathan, has raised $23 million (about Rs 150 crore) from Indian family offices and a clutch of ultra high net worth individuals, according to a report in The Economic Times.

The firm has also made India debut by investing an undisclosed amount in Gurgaon-based intellectual property asset management firm Clairvolex in a Series A funding round.

Anaqua Inc, a Boston-based intellectual asset management software company, also participated in the round.

Clairvolex helps companies in filing, managing and monetising patents, and competes with global players like Thomson Reuters, CPA Global, Evalueserve and Questel. Its clients include telecommunication and technology companies in the US and Europe.

IndusAge has also received $50 million in commitments for its $200 million fund that will invest in Silicon Valley and India-based technology and intellectual property driven startups in the range of $2-5 million. The fund is serving more than 65 clients at present.

The venture firm sees huge potential in Clairvolex as it manages IP assets of large coporations in the US and Europe.

Clairvolex is promoted by LexOrbis, which is promoted by a US-based patent lawyer Manoj Pillai and Agnus, a private investment arm of Strides Arcolab promoter Arun Kumar.

“The Indian IP industry is in its nascent stages and is worth only Rs 3,000 crore, where as it is a $120 billion opportunity globally, with a potential of $14.5 trillion,” said Pillai.

The startup will use the funds for product development and to ramp up its operations in India, US and Europe. Currently, it does not have any clients from India, but has a 400-seater back office facility in Gurgaon.

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.