Chiratae Ventures to raise $20 mn from International Finance Corporation

Chiratae Ventures, previously known as IDG Ventures, will raise $20 million from the International Finance Corporation (IFC). Chiratae is an early stage venture fund focusing on Indian start-ups.

World Bank's investment arm said that the proposed transaction is an aggregate $20 million equity commitment in Fund IV.

"IFC's own account equity will provide patient risk capital to the GP, assisting the fund in achieving its first close. Investment from a lifecycle investor like the IFC will position the Fund to have better access to co-investment and follow-on capital for its investee companies," said IFC.

The company invests in consumer media and technology, health