Early-stage venture fund Cactus Venture Partners CVP raised $44 million in the initial close of its maiden fund, which is focused on backing clean-tech, health-tech and B2B SaaS companies in India.
CVP said in a statement that it is in active discussions with several domestic and international institutional investors and expects to meet the target of Rs 750 crores $94 million by December.
The fund plans to deploy this capital over the next 3 -- 4 years, according to CVP, with a significant 15 per cent commitment from the General Partners.
The CVP team has a mix of founders, investors, and operational experts to help start-ups that have crossed the PMF stage accelerate their growth journey. We are patient investors and impatient business builders, driven by our core values. The capital raise has continued at an exceptional pace, and we are grateful for the support received from our early LPs in India and internationally, said Anurag Goel, General Partner, CVP.
CVP was founded by Anurag Goel and has invested in early-stage technology and direct-to- consumer D 2 C start-ups stage since 2021, along with Amit Sharma and Rajeev Kalambi. Some of its bets include B 2 B risk management and monitoring platform Rubix Data Sciences, millennial-centric Ayurveda brand Auric and SaaS health tech platform Vitraya Technologies.