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Dutch investment firm Orient Growth Ventures has announced the close of its second India and Southeast Asia fund at $90 million. The firm is a limited partner in venture capital firms including Blume Ventures, Jungle Ventures and Chiratae Ventures.
Through the Orient Growth Fund-II, the firm aims to increase its investment in India by backing early-stage venture capital firms, the company’s managing partner Rinze Verbeek was quoted as saying by ET.
“Similar to our first fund, this second fund also concentrates on early-stage venture capital opportunities in India and Southeast Asia. While our first fund did include some investments outside of these regions, we have grown increasingly convinced of the promising development within India and Southeast Asia’s VC ecosystems,” Verbeek said.
The report also said that Orient Growth Fund-II is backed by both existing and new limited partners, including European high net worth individuals, tech entrepreneurs, and family offices across Europe and Singapore.
“Consequently, we’ve decided to further refine our focus with this new Orient Growth Fund II, exclusively directing the Fund’s capital to India and Southeast Asia. Moreover, we have decided to increase our allocation to India, as we see the Indian market as a highly attractive investment destination because of its robust economic growth and the maturity of its venture capital ecosystem,” he added.
