News Column

Ex India Head Of Sherpalo To Float VC Fund

May 1, 2014



To back technology startups, Sandeep Murthy with a team of five is planning to launch Lightbox venture capital in the coming months.

The fund is aiming to raise around 540 Cr and to invest between $8 Mn - $10 Mn in each company. The new fund will raise funds from domestic as well as institutions to support 7 or 8 companies. It has raised initial capital of about R150 Cr from a global institutional investor.

Lightbox will invest in startups focused on e-commerce and mobile as well as those focused on education, healthcare and finance.

Prior starting this venture, Sandeep Murthy was India head of global investor Ram Shriram's venture fund Sherpalo. Other partner, Prashanth Mehta served as CEO position at digital advertising technology provider Komli Media.

Besides Mumbai-based Murthy and Mehta, the other three partners at Lightbox are entrepreneurs Sid Talwar, Sunny Rao and Jeremy Wenokur.

This quarter has witnessed many upliftment in fund raising activities, which include;

Mayfield had raised $86 Mn from a group of 7 institutional investors for its second India focused fund.

Inventus Capital had closed $106 Mn for its second fund to fuel Indian and US based startups.

Sequoia Capital was planning to launch a new India fund with corpus of around $500-$600 Mn.

Also, Mumbai based VC firm @Blume was planning to launch its second fund with corpus of $50 Mn in the coming months.


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Source: DealCurry (India)


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