US-based VC firm, Peesh Venture Capital has launched a venture capital fund PVCII of $50 million and an accelerator programme to make early-stage investments in India. The fund will invest in sectors such as ad-tech, eCommerce, gaming, education, mobile apps, enterprise software, wearables and Internet of Things (IoT).
PVC will typically invest $100,000 to $5 million from PVC II, and PVC Accelerator will invest $5,000 to $100,000 in exchange for equity in growth-stage companies. The accelerator is working with 8 startups.
Few days back, venture capital firm, Accel Partners had announced that it is launching an India-focused fund – Accel India IV of $305 million to back early-stage startups. Sequoia also raised a $530 million India-focused fund in 2014. Earlier this month, SAIF Partners had raised $350 million for a new India-focused fund. 500 Startups is aiming to raise $10-20 million for its India focused micro VC Fund, StartupWallah, which is due for launch in the middle of this year.
