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Business News/ Home-page / Seedfund looks to raise up to $60 million
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Seedfund looks to raise up to $60 million

The fund-raising will begin once the firm fully disburses its existing second fund which it expects to close by December this year

In 2011, Seedfund had raised around $54 million; it has invested in 35 companies from both its funds. Premium
In 2011, Seedfund had raised around $54 million; it has invested in 35 companies from both its funds.

Mumbai: Seedfund, the Mumbai-based early stage investment fund, is looking to raise up to $60 million for its third fund, said a senior official of the company.

“We will do the fund raise after December depending upon the market conditions. We would like to raise $50 million but we can go upto $60 million if we hire new Principals in Hyderabad or Chennai", said Pravin Gandhi, co-founder of Seedfund.

The fund-raising will begin once the firm fully disburses its existing second fund which it expects to close by December this year.

“We will do another four-five investments from this fund," Gandhi added.

The firm has been exiting its investments from the first fund and has registered sizeable returns from its exit in the redBus after Naspers bought out the bus ticketing site It is now looking to exit two more investments from that portfolio—Thinklabs and EduSports.

EduSports is a sports education firm which provides curriculum, equipment’s and sports training to schools. Thinklabs is a robotics education business.

In 2011, Seedfund had raised around $54 million; it has invested in 35 companies from both its funds.

“Our investments will continue to be in the e-commerce, e-commerce enablers and mobile technology sectors," said Gandhi.

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Published: 20 Jun 2014, 05:50 PM IST
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