As an early-stage venture capital fund, Ventureast made it and had its first closing of its sixth fund, the Ventureast Proactive Fund with a $150 million in size.

The firm has received $83 million from existing, as well as its new investors of commitment and it expects to make a final closing in the next half of the year.

The managing partner of Ventureast, Sarath Naru said that he investors include multilateral agencies, insurance firms, existing investors and others. He further said the investors do not include family offices.

Naru stated that the fund-raising environment especially for India-focused funds is really challenging. The reason why it is challenging is the exit avenues. Like China, it would basically take around three years compared to seven years for India. Though the return is similar in both countries.

It is looking forward to invest seed and early-stage businesses where technology is a strong determinant and not just an enable, yes that is what Ventureast Proactive Fund II envisioned, added Naru. The investment of the fund had already lined up with three new start-ups. It is consist of OS Labs, Find Me A Shoe and a startup for digital health.

In addition, Naru emphasized that they will continue to invest businesses where the capital is not the primary competitive advantage but the technology itself.

The VC manager said that the firm also said it would look at the second fund for life science and healthcare in the range of over $100 million. Ventureast's earlier fund size in this space was $94 million.

Ventureast has been investing in India since 1997, managing close to $400 million. With the company's  portfolio it aims to manipulate other businesses that would greatly improve its firm. Naru, had good hopes for their VC firm to work not only at present but in the long run.