VenturEast Proactive Fund II

South Asia Communications and IT Services, Education, Financial services, Health, Other consumer services

VenturEast is an Indian venture capital firm based in Chennai. Founded in 2007, the firm focuses on the technology, infrastructure services, retail, cloud technologies, digital health, social media, and internet sectors.

The VenturEast Proactive Fund II (VPF2) continues the strategy of its predecessor, Proactive Fund I, investing in start-ups and early stage firms that target India’s rapidly expanding consumer market, particularly firms which have a strong technical focus.

Our investment

In 2016, CDC invested $20 million into VPF2, alongside Dutch DFI, FMO. The fund manager aims to invest up to $3 million in early stage firms, and between $5 million to $10 million in growth-stage companies.

Expected impact

India’s fast-growing and increasingly urbanised population is creating a demand for technology-based products and services.

Our investment enables the fund manager to provide growth capital to innovative start-ups and early stage firms, particularly those based in rural and semi-urban areas.

The tech fund has already invested in three start-ups – Find Me A Shoe, which offers virtual shoe fitting; OS Labs, which builds platforms for smartphone handset makers; and a digital health firm.

Environmental and social aspects

The fund manager has a well-established approach to E&S management and we will continue to support and monitor its approach as the portfolio grows.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries

For funds, the countries listed here are those the fund has invested in so far.

:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

:
Communications and IT Services, Education, Financial services, Health, Other consumer services
Website:
http://www.ventureast.net/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund manager:
VenturEast
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
June 2016
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$20m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status
iNurture Education Solutions

i-Nurture provides degree courses that impart practical and up-to-date skill sets that meet industry needs along with a strong theoretical base.

View investment details

India South Asia Education July 2012 Active
EMBL Retail Inc (FMAS)

EMBL Retail, based in Bangalore, is an e-commerce footwear retail company using a smartphone app for customers to take photos of their foot which are uploaded to the company's cloud server. The 3D plot of the foot is then mapped again a shoe database to enable the customer to obtain the best fitting shoes.

View investment details

India South Asia Communications and IT Services September 2016 Active
EMBL Retail Inc (FMAS) India South Asia Communications and IT Services September 2016 Active
Oslabs Pte Ltd

Oslabs has developed the first Android-based regional smartphone operating system made especially for regional language users in emerging markets.

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India South Asia Communications and IT Services September 2016 Active
Patient Focus Private Ltd (eKincare)

Patient Focus is a telehealth provider of a personalised healthcare service for women via mobile devices, internet, etc. The service connects customers with certified physicians and women's health specialists who treat a wide range of medical conditions.

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India South Asia Health September 2016 Active
Patient Focus Private Ltd (eKincare) India South Asia Health September 2016 Active
Zipgo Technologies Pvt Ltd

Zipgo, which is based in Bangalore, is an app-based aggregator for mass consumer transport services using route optimisation and demand estimation technology. Urban commuters make their reservation through the zipgo mobile app 5 minutes before their journey and can be assured of a seat in an air-conditioned van or bus.

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India South Asia Other consumer services September 2016 Active
AVR Edge Networks Pvt Ltd

EdGE Networks has developed an IA, NLP and Data Science based comprehensive platform for workforce organisation and talent acquisition with intelligent search and match capabilities.

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India South Asia Communications and IT Services December 2017 Active
On EMI Technologies (Kissht)

India's leading online consumer lending platform. It enables easy and instant purchase finance options to consumers across a wide variety of channels (online and offline) and purchases (electronics, mobile, consumer durables, furniture).

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India South Asia Financial services December 2017 Active
MGH Labs India South Asia Health June 2018 Active
Inthree Access Services Pvt. Ltd. (Boonbox) India South Asia Other consumer services September 2018 Active
Iqlect India South Asia Communications and IT Services September 2018 Active
MoEngage India South Asia Communications and IT Services October 2018 Active