India's Endiya closes debut fund at $26m

The vehicle, Endiya Partners Fund I, will support companies in the technology, healthcare and consumer services sectors at the seed and pre-Series A stage.

AVCJ Research has records of several investments since the fund’s first close in January 2016, most recently a $1.35 million commitment to mobile app management platform Hansel.io alongside IDG Ventures. The GP will primarily target start-ups based in India, but will consider companies in other regions if their products have a relevance to India or other emerging markets.

Endiya launched the fund in 2015 with a target of INR2 billion. While the final close undershot the target, Managing Director Sateesh Andra told VC Circle that the firm considered the current corpus acceptable given the planned focus on early stage investments. The GP expects to invest up to INR120 million per company, including follow-on rounds.

Most of the capital for the fund came from Indian family offices and financial institutions, including the Small Industries Development Bank of India (SIDBI) and the Life Insurance Corporation of India. Additional contributions were raised from a few Indian entrepreneurs.

Endiya was founded in 2015 by Andra, along with Ramesh Byrapaneni and Abhishek Srivastava. All three were colleagues at Indian VC firm Ventureast: Andra was managing partner, while Byrapaneni and Srivastava were on the investment team.

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• Topics
• South Asia
• Fundraising
• Venture
• India
• seed
• Technology
• Consumer
• healthcare