Inventus India raises $52m

The Bangalore-based venture capital firm has closed its third fund above target.

Inventus Capital India has closed Inventus III – India Fund at INR3.69 billion ($52 million; €47.2 million), surpassing its INR3.25 billion ($45.8 million; €41.5 million) target.

The fund targets telecommunications, media and technology start-ups in India. It has completed five investments since first close in October 2018.

Its predecessor, Inventus Capital Partners Fund II, closed at $106.5 million in December 2013.