IFC to invest $10 mn in Endiya Partners Fund II for product start-ups

Endiya Partners is a seed and early-stageventure capital firm investing in IP-led Indian product start-ups that are globally relevant

Endiya Partners Fund II, a city-based venture capital fund has received a commitment of Rs 75 crore ($10M approx.) from the International Financial Corporation (IFC), a member of the World Bank Group, the company said on Monday.

IFC has also committed an additional $10 million for direct co-investments alongside Endiya Fund II, it said in a press release.

"Early Stage VC investment volumes in India are markedly lower than VC volumes in countrieslike the U.S. and China. Our investment in VC funds like Endiya helps mobilize capital from other LPs and brings that capital to path breaking early stage businesses.