Bangalore: Helion Venture Partners has closed its third round of fund at just over $255 million. It has earlier raised $140 million for its first round in 2006 and another $210 million in March 2008.

Helion Venture Partners is an India-focused, early to mid-stage venture fund, investing in technology-powered and consumer service businesses in sectors like Outsourcing, Internet, Mobile, Technology Products, Retail Services, Education and Financial Services.

Helion has invested in more than a dozen startup companies including Make My Trip, redBus, Komli Media and SMS Gupshup. The new fund will make them probably the largest VC Firm in India in terms of assets under management. This round of fund has brought the total assets under management past $600 million.

The new fund is expected to focus on early stage to growth capital deals across technology and consumer-related industries including mobile, outsourcing, healthcare, education and others. The fund will look at deal sizes between $2 million and $10 million and with an investment horizon of 5-7 years.