Kalaari closes third India VC fund at $290m
Kalaari Capital has closed its third venture capital fund, Kalaari Capital Partners III, at $290 million. The fund will invest in early-stage Indian technology-oriented companies.
Vani Kola, the firm's co-founder and managing director, confirmed the closing in an email to AVCJ. The fund launched earlier this year with a target of $200 million. Several investments have already been made from the vehicle, including a Series A round for tech business news website YourStory in August.
The firm's previous fund, Kalaari Capital Partners II, launched in October 2011 and closed at $162 million the following year.
Founded in 2006 as IndoUS Ventures, Kalaari initially focused on supporting Indian companies that planned to expand into the US. Later it changed focus toward building companies for further expansion within the Indian market.
Kalaari's portfolio companies include online marketplace Snapdeal and online jewelry store Bluestone. Recently it led a $9 million Series B round for B2B industrial equipment marketplace Industrybuying, with participation by SAIF Partners and Beenext.
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