There’s always a silver lining! True to this statement, IvyCap Ventures are again ready to shed about INR 600 Crore or more in it’s second fund, “IvyCap Trust Fund II”. This again comes in the situation when fundraising ecosystem is being too harsh. Firm is looking to double the amount owing to the support from institutional backers and the promising growth of the backed companies said managing partner IvyCap Ventures, Vikram Gupta.

Gupta said, “We have the option of not stopping at Rs 600 crore. We are seeing a lot of interest from investors based in Hong Kong, Singapore, Japan and from the US. A lot of our portfolio companies are growing at a tremendous pace, and there is a need for follow-on funding. Therefore, we decided to have a green shoe option of another Rs 600 crore”.

Already about Rs. 450 Crore has been promised through hard and soft commitments, remaining Rs. 150 Crore to be raised in upcoming 3-4 months. Firm declared first close of Fund II at Rs 300 crore in April 2016. Though names weren’t disclosed, it is said negotiations are being held between fund and a number of global fund-of-funds, sovereign wealth funds, family offices and corporates that are looking to enter Asia’s third-largest economy.

“There are quite few investors fishing around for investment opportunities in India, and who have approached us. We’ve started our pre-marketing efforts, and expect to raise another $100 million in 8-10 months, ” he said.