Endiya Partners raises $40m

The Hyderabad, India-based investment firm holds a first close on its second venture capital fund.

Endiya Partners has held a first close for Endiya Partners Fund II at $40 million. With this closing, the fund has achieved the halfway mark of its $70 million initial fundraising target. The firm’s second vehicle will follow its predecessor to invest in technology and healthcare start-ups in India.

Investors in fund II include institutional investors like Small Industries Development Bank of India and Life Insurance Corporation of India (LIC), high net worth individuals and family offices.

Endiya Partners Fund I held a final close at INR1.75 billion ($25.1 million; € 22.5 million) in January 2017.