Avataar Venture Partners raises $100 million as add-on capital
SECTIONS
Share
Synopsis
The add-on capital is on top of the $300 million that Avataar Venture Partners had raised in 2019 to invest in B2B and SaaS companies.
ETtech
(Illustration: Rahul Awasthi/ETtech)
Mumbai:Avataar Venture Partners has raised a top-up fund of $100 million to invest in its star portfolio companies and to make new investments. This is in addition to the $300 million it had raised in 2019 to invest in business-to-business (B2B) and Software-as-a-Service (SaaS) companies.
The fund has made three new investments so far, including in Rate Gain and SenseHQ, and has set up a Saas platform called Heal.
Updated Feb 18, 2021 | 12:51 IST
Avataar Capital said it has raised $100 million additional opportunity fund to invest in its star portfolio companies and to make new investments Avataar Capital said it has raised $100 million additional opportunity fund to invest in its star portfolio companies and to make new investments. (Representational image) | Photo Credit: BCCL
New Delhi: Bengaluru-based Avataar Ventures which invests in tech-focused business-to-business (B2B) and software-as-a-service (SaaS) firms in the growth stage, on Wednesday announced that it has raised an additional $100 million for Opportunities Fund to make new investments.
Further, this is in addition to the $300 million it had raised in 2019 to infuse in B2B and SaaS companies.
The CRISPR technology works like molecular scissors that can cut DNA at any given point, Endpoints News reported. In theory, a researcher could cut HIV from a patient s DNA. Still, some researchers are skeptical of the success because HIV is known to hide in hard-to-reach places.
When Excision s Kamel Khalili, a researcher at Temple, previously used this approach on mice infected with HIV, about one-third were cured.
He also led a study, published last year, that used CRISPR to successfully remove SIV a virus that behaves similarly to HIV from rhesus macaque monkeys, leaving researchers optimistic that they are getting closer to an HIV cure.
We ll soon meet in your inbox.
Please wait.
The transaction would double the company’s valuation in less than 24 months. SoftBank Vision Fund had picked up a 40% stake in the company in 2019, valuing it at about $1.1 billion. FirstCry received $400 million in fresh equity from the Masayoshi Son-led fund as part of a Series E funding round.
The final quantum or number of new investors is expected to get finalised soon, as is the stake dilution which is expected to be less than 10%. According to the people cited above, the company aims to go public in 24-36 months and wants to realign its capitalisation table before that.