Helion Venture Partners , which was founded in 2009, announced its fourth fund worth $300 million for startups in India.
Using its new fund, Helion is again targeting early to mid stage tech startups in India . Typical investments will range from $1 million to $10 million, and the fund is expected to last for three to four years, according to Helion co-founder Sanjeev Aggarwal.
Helion is the latest in a flurry of firms to raise money for investments in fast-growing India. Helion which includes big startup brands like Housing.com, TaxiForSure, and Komli among its portfolio going to expand its investment limit per year. We will put around three-quarters of the fund towards startups that are helping digitize the national economy, for example those involved in retail, travel, insurance and, loans, Aggarwal said
The fourth fund is around the same size as Helion’s third fund. Despite the fact that India’s startup and investment scene has taken off in a major way this year, the company resisted the temptation to raise more in order to stick to its niche, Aggarwal explained in an interview with TechCrunch.
In the past six months the firm has participated in 10 deals, of which eight have been in technology sector. Some of its recent bets include $5 million Series A rounds in social discovery platform Wooplr and dating app Trulymadly.
Since inception, the firm has raised over $600 million across three funds and backed 62-odd companies. Plans for the fourth fund come more than three years after it raised $255 million for its last fund. Limited partners who have backed the firm in the past include the Stanford University and Princeton University endowments and the Singapore government’s sovereign wealth fund GIC.