AdvantEdge Founders announces Rs 300 cr consumer technology fund

Early-stage venture capital firm AdvantEdge Founders Tuesday announced Rs 300 crore fund for consumer technologies with a focus on mobility.

The firm expects to close Rs 100 crore commitment from investors by March and rest of the Rs 200 crore within this year.

"AdvantEdge Founders Fund II has already received commitments of Rs 100 crore from its existing Fund I anchor Limited Partners (LPs) and is on track to secure additional commitments of Rs 200 crore," AdvantEdge Funders said in a statement.

Fund II is targeting a first close by March 2019.

"We are looking to bring on board leading players in the auto mobility ecosystem including OEMs, component manufacturers, mobility solution providers and aftermarket auto distributors as limited partners in this sector focussed fund," Kunal Khattar, Managing Partner, AdvantEdge Founders said.

He said that the fund "aims to close the remaining Rs 200 crore within this year".

The firm said that new business models driven by shared mobility, ...