5 October 2016, India :
Ventureast, one of India’s longest standing early-stage Venture Capital firms, announced the first closing of their sixth fund- Ventureast Proactive Fund II (VPF2). The Fund received strong interest from existing and new investors, and targets a final closing in the next six months.
Ventureast Proactive Fund II will invest in seed and early stage businesses where ‘technology is a strong differentiator and not just an enabler’. The emphasis is on relatively unaddressed sectors such as rural and semi-urban markets, needs of the SME’s, and pure play technology ‘picks & shovels’. Ventureast expects these opportunities to emerge in fintech, enterprise applications, cloud, mobile internet, and IoT / consumer internet.
Sarath Naru, Managing Partner of Ventureast said, “We continue to invest in businesses where capital is not the primary competitive advantage, but ‘technology’ is. While huge investments have been made in tech businesses over the last five years chasing the ‘firstest with the mostest’ strategy, the emphasis today is on the kind of startups where technology will be the primary differentiator. These businesses are leveraging the cloud, IOT, big data analytics/AI, mobile, etc to build unique and globally scalable solutions.”
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