Cactus Venture Partners (CVP) today announced raising INR 350 crores in the initial close of its maiden fund. The fund will focus on investing primarily in clean-tech, health-tech, and B2B SaaS companies in India. The fund is in active discussions with several domestic and international institutional investors and anticipates the final close of its fund target of INR 750 crores by December 2022. With a significant 15% commitment from the General Partners, the fund plans on deploying this capital over the next 3-4 years.
Anurag Goel, General Partner, Cactus Venture Partners, said, “The CVP team is unique in bringing together a mix of founders, investors, and operational experts to help start-ups that have crossed the PMF stage accelerate their growth journey. Very strongly driven by our core values, we are patient investors and impatient business builders. The fund’s capital raise has proceeded at an exceptional pace, and we are grateful to the support received from our early LPs in India and internationally.”
Founded by Anurag Goel (co-founder of Cactus Communications, global science communication, and technology company), Amit Sharma (a seasoned venture investor), and Rajeev Kalambi (a former investment banker and early-growth private equity investor), CVP has been investing in technology and direct-to-consumer (D2C) start-ups in the early growth stage since 2021. With this initial close, the Partners aim to leverage their complementary capabilities and capital to enable new-age purpose-driven companies to achieve their true potential. Cactus Venture Partners has previously invested in Rubix Data Sciences, a technology and analytics-driven B2B risk management and monitoring platform, Auric, an Ayurveda brand targeting millennials; AMPM, a global lifestyle brand with a modern Indian aesthetic; and Vitraya Technologies, a SaaS health tech platform.