IUVP rebrands as Kalaari Capital, closes $150m India VC fund
The founders of Indo US Venture Partners (IUVP) have established Kalaari Capital Advisors, a new fund manager that has raised a venture capital vehicle worth $150 million for the Indian market.
Vani Kola, managing director at Kalaari, told VCCircle that despite the similarities between the investment strategies of the two firms, the rebranding of IUVP is expected to bring in fresh ideas and focus on the Indian market.
Kalaari has already invested in HandsFree Networks, a US-based provider of automated technical support with offices in Bangalore. This tallies with US SEC filings which state that HandsFree raised $4 million from a single investor earlier this year.
"IUVP will continue to function as it is and will be working with the companies it has already invested in," said Kola. "IUVP had invested over a $100 million in 35 companies in the last five years. Similarly, we plan to invest Kalaari's fund of $150 million over the next four to five years in India."
Alongside Kola, the other founders of Kalaari are Kumar Shiralagi and Rajesh Raju. Kola and Shiralagi bring experience working on investments such as Snapdeal, VIA, Attero, Microqual, Myntra, Medplus, Apalya.
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