Venture capital firm Ventureast is looking for exit from three portfolio companies in its technology-focussed fund. The firm focuses on early stage investing or in other words Series A funding, where the deal size is between Rs.12 crore and Rs.30 crore.
The firm’s $150 million tech-focussed fund The Ventureast Proactive Fund has 14 companies in its portfolio.
“We are focusing on exits, which our investors will like to see. This market has taken a lot of investments in the last eight years, and the capital overhang should be swiped out of the system through exits,” Siddhartha Das, General Partner Ventureast, said.
Mr. Das also said the exit would happen in the next 12-18 months. The firm’s current portfolio includes loyalty and rewards management firm Loylty Rewardz; online pre-press, design and production services firm Ad2pro; Onemi’, an e-commerce firm that sells only on equal monthly instalments; and vocational training firm Orion Edutech.
Mr. Das noted that Ad2pro had received a lot of strategic investment offers from global firms. He declined to name the investors and also the other companies which the firm was looking to exit. One of the notable exits of Ventureast was Atyati Technologies, a technology platform provider for the rural banking sector in India, which was sold to Genpact in 2012.
