IDG Ventures India, the Indian venture capital affiliate of media and events firm International Data Group (IDG), is looking to raise $200m for a third fund, according to a securities filing on Friday.
Founded in 2006, IDG Ventures India is part of the global IDG Ventures network and still counts IDG as its lead investor and sponsor. It invests between $500,000 and $10m in companies operating in the consumer media and technology, software, healthcare technology and fintech sectors.
The SEC filing stated that IDG Ventures India Fund III has not yet raised any capital. Its first fund, closed in 2006, was $150m in size and the firm was said in 2012 to be nearing $150m for its second, with IDG set to provide 25% of the final total.
The firm’s portfolio includes e-commerce companies Flipkart, Valyoo and babycare product seller FirstCry. It was also an investor in Myntra, the fashion e-commerce company acquired by Flipkart for $300m in 2014.