VC firm Endiya Partners to get USD 10 million from World Bank Arm


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Comserve Inc.

Aug 18, 2020, 12:00 EST


Bronx, United States, Aug 18, 2020, 12:00 /Comserve / -- Seed and Early Venture Capital firm ‘Endiya Partners’ that invests in intellectual property led Indian products startups has received a commitment of USD 10 million for its Endiya Fund- II

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Hyderabad, India, 14, Aug 2020- Seed and Early Venture Capital firm ‘Endiya Partners’ that invests in intellectual property led Indian products startups has received a commitment of USD 10 million for its Endiya Fund- II. This investment commitment came from International Financial Corporation (IFC), which is a member of the World Bank Group. This partnership with IFC will provide Endiya’s portfolio companies with financial as well as strategic support to enter its next phase of growth. IFC has also committed an additional USD 10 million for Endiya Fund-II’s direct co-investments.

IFC, which is World Bank’s private sector investment arm, had planned to invest in Endiya Partners new fund in May 2020 itself. Earlier, in May 2019, Endiya Partners’ marked the first close of its second fund when the firm informed that it had so far raised US 40 million, which is half of the targeted corpus of USD 70 million. Sateesh Andra, who is one of the founders of Endiya Partners commented on this fresh investment and said that the co-investment amount could be used to support the portfolio companies as they grow.

IFC has a global network and they invest growth capital. IFC has a vast experience in terms of markets, geographies, bench capital and they also do direct investments. So, this partnership of IFC with Endiya Partners’ will help its portfolio companies to scale further. Endiya Partners focus has always been on the intellectual property led Indian startups that are of global relevance. The first fund made about 12 investments in different domains such as SigTuple in medical technology, Darwinbox, which is an enterprise HR management platform and a fintech startup Kissht among others. It has also invested in a solar power solution firm Cygni Energy and in a deep-technology startup, Steradian Semiconductors Pvt. Ltd. which develops high-performance sensors for autonomous vehicles. As of now, Endiya Partners has a USD 100 million under management.

IFC has earlier been investing in a number of startups and firms in India. In 2016, IFC led investors, added about USD 57.33 million in eyewear e-retailer Lenskart. Last year in May 2019, it invested around USD 222 million into Cholamandalam Investment and Finance Company Ltd (CIFCL).  In the same month, it invested an amount of USD 35 million in Manappuram Finance.

About Endiya Partners

Founded in 2015, the seed and early stage venture capital fund investor, Endiya Partners, is an investment supporter that invests in IP led Indian product startups that are globally relevant. Endiya Parters’ vast operational and entrepreneurial experience plays an important role in making businesses scalable.

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