Findmeashoe, OS Labs raise investments from Ventureast’s new tech fund
Bangalore-based footwear recommendation app findmeashoe is among the first few startups that early stage investor Ventureast Fund Advisors India Ltd will be investing in from its new tech fund.
The VC firm just announced the first close of its sixth fund — —Ventureast Procative Fund II (VPF2). In an interaction with Techcircle, Sarath Naru, managing partner of Ventureast, said VPF2 has raised $83 million in the first round its technology fund for which it ultimately plans to raise $150 million. The first closure of the month was delayed by about a year as the VC firm had hoped to accomplish it by the second quarter of 2015. The firm hopes to close the fund in the next six months, Naru said.
Along with Findmeashoe, Ventureast will also be investing in OS Labs, which builds platforms for smartphone handset makers and a digital health startup whose name Naru didn’t disclose because it is in stealth mode.
The first close is important for investment firms as it means they have corpus in hand to start making investments.
The firm, meanwhile, made a handful of investments in India from its Life Fund III, which focusses on healthcare, food and clean-tech startups. In this fund, foreign and Indian institutions invested 80% and 20% respectively. The nature of investors for the tech-fund is currently not known.