CVP aims to raise Rs 750 crore by Dec to invest in clean-tech firms

Early stage venture capital fund Cactus Venture Partners expects to raise Rs 750 crore by December and plans to invest the amount in clean-tech, and health-tech companies, among others.

Out of the total amount, the VC fund has raised Rs 350 crore.

"The fund is in active discussions with several domestic and international institutional investors and anticipates the final close of its fund target of Rs 750 crore by December 2022.

"With a significant 15 per cent commitment from the General Partners, the fund plans on deploying this capital over the next 3-4 years," Cactus Venture Partners (CVP) said in a statement.

Anurag Goel, Co-Founder of Cactus Communications, Amit Sharma, a seasoned venture investor, and Rajeev Kalambi, a former investment banker, are the founders of CVP.

Cactus is a global science communication, and technology company.

CVP has been investing in technology and Direct-to-Consumer (D2C) startups in the early growth stage since 2021.

"The fund's capital raise has proceeded at an exceptional pace, and we are grateful to the support received from our early LPs (Limited Partners) in India and internationally," Goel said.