VC firm Cactus Venture Partners marks final close of its Rs 630 crore first fund

Cactus Venture Partners (CVP), a venture capital firm with a focus on early growth-stage startups, has announced the successful closure of its first fund, raising over Rs 630 crore. 

The VC firm, co-founded by Anurag Goel, Amit Sharma, and Rajeev Kalambi, has garnered support from a mix of domestic and international investors.

Who are the investors?

The fund's capital commitments feature a 60% contribution from domestic sources, including leading Indian development financial institutions like SIDBI, Self-Reliant India Fund (SRI Fund), and the UP Startup Fund.

The remaining 40% comes from international Limited Partners (LPs) across the USA, Singapore, EU, and the UK, alongside significant investments from family offices and Ultra High Net Worth Individuals (UHNIs). CVP's investment strategy is broad, with a keen interest in startups within the climate tech, health tech, and B2B SaaS sectors.

Strategic growth and portfolio expansion

CVP aims to foster the growth of purpose-driven entrepreneurs, offering more than just capital. With a Growth Acceleration Playbook (GAP), the firm provides resources and guidance to help startups scale successfully.

Currently, CVP has five companies in its portfolio and plans to make an additional 8-10 investments over the next 1-2 years, targeting Series A and early Series B stages. The firm highlighted the importance of established Product-Market Fit (PMF) and supports international expansion for its portfolio companies.

Investment plans

Despite challenging market conditions and a tightening liquidity environment for startups, CVP has maintained its focus on sectors with long-term growth potential.

The firm's disciplined investment approach has already led to one early exit, demonstrating its commitment to building a high-quality, high-conviction portfolio. The fund's strategy includes a balanced investment in new and follow-on funding deals, aiming for a total of 15 companies in its portfolio.

Looking ahead, CVP plans to close three to five deals in the first half of 2024, with investment ticket sizes ranging from Rs 20 crore to Rs 40 crore. 

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