Cactus Venture Partners (CVP) has raised INR 350 crore ($44 million) in the initial close of its maiden funding round. The fund will focus on investing in health tech, and B2B SaaS companies in India.

The fund is in active talks with several domestic and international institutional investors and expects to reach its fund goal of INR 750 crore by December 2022.

Cactus Venture Partners has been investing in technology and direct-to-consumer (D2C) startups in the early growth stage since 2021. With this initial close, it aims to leverage complementary capabilities and capital to enable new-age purpose-driven firms to reach their full potential.

“The CVP team is unique in bringing together a group of founders, investors, and operational experts to help startups that have crossed the PMF stage accelerate their growth,” Goel, general partner of CVP, said. “The fund’s capital raise has progressed at a remarkable rate,” says the fund’s chairman.

LetsVenture’s Shanti Mohan Launch Micro VC Fund ‘Propell’ To Early-Stage Startups

Cactus Venture Partners founded by Abhishek Goel, Amit Sharma, and Rajeev Kalambi, the company stood investing in technology and direct-to-consumer (D2C) startups in the early growth stage since 2021. The company helps start-ups in high-momentum sectors scale rapidly and become sustainable they also support non-traditional ideas that have the potential to transform the business landscape.