Inventus closes Fund II at $106m

Inventus Capital Partners Fund II, which launched in December 2012, will back 20-25 companies with investments of up to $10 million. The early-stage PE firm has an interest in software-as-a-service, consumer internet and media, mobile technology and technology enabled service.

Inventus has teams in Silicon Valley and Bangalore and backs start-ups in both geographies.

Investments from Fund II made over the past year include leading $1.6 million funding for Espresso Logic; a $2 million Series A funding round in Unbxd, a product recommendation engine for ecommerce companies; a $2 million Series A round of funding in Bangalore-based eDreams Edusoft; and a $5 million Series B round in online insurance platform PolicyBazaar.

The VC firm exited the first fund's investment in online bus booking firm redBus last year when South African media conglomerate Naspers acquired 80% stake in the company for ZAR1 billion (around $101.1 million at the time).

Other exits include ViVu (acquired by Polycom in 2011) and Sierra Atlantic (acquired by Hitachi Consulting in 2010).

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