IDG Ventures India’s third fund completed a final close of its third fund last year with over USD 208 million in commitments.
Venture capital firm IDG Ventures India on Tuesday said it has received investment from Cisco in its third fund.
IDG Ventures India’s third fund completed a final close of its third fund last year with over USD 208 million in commitments.
The fund has already invested in over 26 companies across various sectors such as fin-tech, consumer, software and health-tech. Overall it has invested in over 70 companies including startups like Myntra, Lenskart, FirstCry, Manthan, NestAway, Policybazar, Rentomojo, Unbxd and Uniphore.
The fund has also reported some exits in the recent past, the most recent being Newgen Software which was taken public on NSE and BSE in India in January 2018.
Another portfolio company of IDG Ventures India fund, Yatra, is listed on NASDAQ.
IDG Ventures India will continue to invest in deep tech start-ups in the SaaS space apart from consumer, fin-tech and health-tech.
“Cisco is a renowned leader in the world of technology. IDG Ventures India is deeply entrenched in the high-tech ecosystem in India and combined with a solid portfolio of investments, is geared up to create value for Cisco. The investee companies of IDG Ventures India funds will greatly benefit through this association,” said Sudhir Sethi, Founder and Chairman of IDG Ventures India Advisors.
“Cisco has a rich history of participating in India’s technology ecosystem and investing directly in local innovation over the past decade. Today, we are pleased to further our commitment to the country’s ongoing digital transformation by collaborating with IDG Ventures India, one of the premier Institutional Venture investors in the country,” said Rob Salvagno, vice president and head of Cisco Investments.
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