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Banking And Finance | May 02, 2012
#19175

Seed commits Rs 1.7 bn so far from 2nd fund

It is learnt that Seed Fund Advisors has given commitment of Rs 170 crore, out of a corpusof Rs 250 crore in its Seed Fund-II, to various entitiesand the remaining Rs 80 crore will be invested in 2012-13. 
 
 The sector-agnostic fund house has two funds.While Seed Fund-I has a corpus of Rs 65 crore, Seed Fund-II has a total fund ofRs 250 crore.
 
 The VC firm, which has investors like pensionfunds of the Scandinavian countries and Commonwealth funds among others,recently invested around Rs 10 crore in a SMS search engine company named'Innoz'.
 
 The fund house searches for innovative ideas andentrepreneurs to fund and 'Innoz' is one such company. At present, the companygets around 1 million searches a day from customers. 
 
 The company had exited from firms like Carwale andRedbus among others and made sound return out of this investment. The returns werepretty attractive from these exits and the firm hopes to maintain the trend inthe future.

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