Cactus Venture Partners, an early-stage startup venture fund, announces the closure of its inaugural fund, securing over Rs 630 crore, according to media reports.
This fund marks one of the largest first-time venture capital funds raised in India. The investment comes from a diverse mix of domestic and international limited partners (LPs), including family offices and high-net-worth individuals from the US, Singapore, EU, and the UK.
Among the domestic LPs are prominent entities such as SIDBI, the Self-Reliant India Fund (SRI Fund), and the UP Startup Fund.
Rajeev Kalambi, General Partner at Cactus Venture Partners, highlighted the blend of both domestic and international investors. He mentioned commitments from notable family offices, including a large mining group and a flexible packaging company based in Western India. Additionally, investments were secured from companies in sectors such as mining, sealing, and renewable energy, with a presence in Raipur and Bengaluru.