JSW Ventures, the corporate venture capital vehicle for India-based conglomerate JSW Group, is preparing to shortly reach the first close of a fund expected to reach Rs 3.5bn ($49m), VCCircle reported today.
The fund in question will be JSW Ventures’ second and the close is set to take place by February 10, according to managing partner Gaurav Sachdeva, who put the projected size at roughly $21m.
Founded in 1982, JSW Group operates in several different industries. Its core business is steel production but it also has interests in energy, cement, paint, real estate and infrastructure work.
JSW Ventures invests in software-as-a-service providers, e-commerce platforms, mobile consumer-focused companies and healthcare, finance, education and data analytics technology developers.
Sachdeva told VCCircle: “We are excited about the following trends in-store analytics, predictive stocking, design-to-manufacturing tech, sustainability compliance, pharma insights, data compliance in marketing (and) external insights aggregation amongst others.”
The fund’s sponsor is JSW but its limited partners include family offices and individual investors. Its first fund closed at $14.7m in 2016.
