World Bank arm invests $10 mn in venture capital firm Endiya Partners

Endiya Fund II has received a commitment of $10 million (around Rs 75 crore) from the International Finance Corporation (IFC), a member of the World Bank Group.

IFC has committed an additional $10 million for direct co-investments alongside Endiya Fund II. The partnership with IFC will provide Endiya portfolio companies with financial and strategic support.

Endiya Partners is a seed and early-stage venture capital firm investing in Indian product start-ups. Endiya’s current portfolio includes Darwinbox, Steradian Semiconductors, Kissht, SigTuple, and Myelin Foundry.

“Early Stage VC investment volumes in India are markedly lower than VC volumes in countries like the US and China.

“Our investment in VC funds like Endiya helps mobilise capital from other LPs and brings that capital to path breaking early stage businesses,” said Jun Zhang, IFC Country Head, India. Endiya Partners has demonstrated differentiation in access to high-quality Pre-Series A opportunities in Enterprise Technology and Healthtech sectors” he added.

Endiya Fund II has a corpus target of $ 65 million (around Rs 500 crore) and has already completed its first close at Rs 280 crore ($ 40 million) in May 2019.

Limited Partners in the Fund include financial institutions, corporates, and family offices across India, Europe, and the U.S. Endiya Fund II will seek to invest in 16-20 start-ups, with an initial cheque size of $500,000 to $ 1 million in Seed/Pre-series A rounds and a planned investment of up to $5 million per company.