IvyCap Venture to Work on India-Israel Cross-border Fund Concept Worth US$100 mn

Published By : 13 Feb 2018 | Published By : QYRESEARCH

Product innovation in India has largely been led by the service-oriented startup ecosystem. In order to stimulate it, IvyCap Venture, a venture capital firm, is discussing to explore a cross-border fund between Israel and India. The equity fund, which is expected to be sized at US$100 mn, will witness IvyCap Ventures partake together with an Israel-based investor group or invest equally. Vikram Gupta, the managing partner of IvyCap Ventures, states that they are working on this concept of an India-Israel cross-border fund of US$100 mn. “The company is in talks with an Israeli venture capital startup, which is very active and can be the other investor in the fund,” he added. However, he refused to share the details of the possible partnerships between the two given that the discussion is still at an early stage.

The plans of Ivy Cap to explore a cross-border fund is following the initiatives of Israeli and Indian governments to invest in and support the research and development activities in the fields of science and technology and innovation as an addition to the Israel-India Innovation Initiative Fund (I4F) worth US$40 mn, which was rolled out in July 2017. The renewed interest in the initiatives adjoining these areas were announced in January 2018 during the India visit of the prime-minister of Israel, Benjamin Netanyahu. The fund of IvyCap is anticipated to focus on startups that are Israel-based but are working on India-specific solutions in various areas, such as water, agriculture, healthcare, and cyber security.

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