The early-to-growth stage venture capital firm, IvyCap, has raised around $19 million as a part of the first close of its approximated target of $36 million fund. IvyCap Venture Trust Fund is a SEBI registered fund and has been set up as India's first Venture Capital fund focused on entrepreneurs with professional backgrounds from premier educational institutions of India.

Started by former Ajay Piramal Group executive Vikram Gupta, IvyCap believes that in the early growth stage companies, a strong collaborative approach is critical for success. The company is also working towards building a strong entrepreneurial ecosystem cross educational institutions of the country. IvyCap makes a minimum investment of around $50,000 for individual investors and $50,000 for institutional investors.

The company is looking at raising the remaining amount of fund which they expect to close in another three months. IvyCap has the philosophy to invest in companies in Early to Growth stage, with highly scalable and innovative business models with demonstrated sales. The investment team of the venture fund comprises of Vikram Gupta, Founder and Managing Partner; Ashish Wadhwani, Partner; and Norbert Fernandes, Co-founder and Principal.

Apart from deploying capital, the company also adds significant strategic inputs to portfolio companies. Following an investment, IvyCap nominates its representative to take a board seat in the portfolio company and the fund management team commits time and resources to help portfolio companies execute their business plans.

IvyCap plans to make a maximum of five deals a year, investing between Rs.2 crore and Rs.40 crore over the life of a company, and these investments will be made in post-revenue companies that implies the series A round and onwards.