VC fund IDG Ventures will soon be raising a new fund of about Rs 1,300 crore after almost a year.
The new round of funding which is expected to begin in October will be used to increase the investment firm’s footprint overseas and reach out to both overseas and domestic investors.
The company had recently included Ratan Tata as one of the advisory board members and since then has approached at least 150 family offices and has received about 50% of the commitments.
The firm last raised Rs. 600cr last November and has been steadily growing in the venture capital market.