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International Financial Corporation to Invest Rs.75 crore in Endiya Partners Fund II

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IFC-invests-$10-million-in-Endiya-Partners-Fund-IIThe International Financial Corporation(IFC), a member of the World Bank Group, has committed to invest Rs 75 crore (about USD 10million) in Endiya Partners Fund II. In addition to this, IFC has also committed an additional USD 10 million for direct co-investments.

  • The partnership will provide financial and strategic support to Endiya portfolio companies, resulting in increased access to growth opportunities and sustainable scalability

Endiya Partners Fund II

i.Endiya Partners Fund II is an India domiciled Category II Alternate Investment Fund (AIF).

ii.It seeks to invest in 16-20 start-ups, from USD 500,000 to USD 1 million in Seed/Pre-series A rounds and a planned investment of upto USD 5 million per company.

iii.It has a corpus target of USD 65 million (around Rs 500 crore) and has already completed its first close at Rs 280 crore (USD  40 million) in May 2019.

iv.The Limited Partners(LPs) in the fund include, Financial institutions, corporates, and family offices across India, Europe, and the U.S.

Note– Endiya’s Fund I was a 2016 vintage fund with Rs 175 crore ($25 million) corpus and had invested in 12 portfolio companies.

Endiya Partners

General Meaning– It is a seed and early-stage venture capital firm investing in Intellectual Property(IP)-led Indian product start-ups that are globally relevant.

Addresses a funding gap– It’s investment strategy addresses  a funding gap in the venture capital spectrum in India between Angel and Series A investments.

Current investment portfolios– Darwinbox, Steradian Semiconductors, Kissht, SigTuple and Myelin Foundry.

Investment of IFC

i.The investment of IFC in Venture Capital funds like Endiya will help to mobilise capital from other LPs and bring that capital to early-stage businesses.

ii.Prior to this commitment, IFC has invested USD 20 Million in early-stage venture fund Chiratae Ventures, formerly known as IDG Ventures, in 2019 and 2017 among others.

Recent Related News:

i.The Punjab Cabinet approved a USD 285.71 million(over Rs 2,130 crore) project for canal-based water supply for Amritsar and Ludhiana cities through video conferencing. The funding of these projects will be offered by the World Bank(70%) and Punjab gov(30%). In addition to this, the cabinet also approved an amendment to the Land Pooling Policy.

ii.World Bank Approves USD 750 Million Micro, Small, and Medium Enterprises(MSMEs) Emergency Response Program to support severely impacted MSMEs in India due to COVID-19 crisis.

About Endiya Partners:

Headquarters-  Hyderabad, Telangana
Managing Director– Ramesh Byrapaneni & Sateesh Andra

About IFC:

Headquarters– Washington, D.C., United States
Country Head, India– Jun Zhang