YourNest Venture Capital raises Rs 400 Cr for Continuum Fund
The Continuum Fund I of YourNest will serve the twin objectives of providing liquidity to its limited partners and capital to the startups in its portfolio.
YourNest Venture Capital, an early stage venture capital firm has announced the final close of its YourNest Continuum Fund I at Rs 400 crore with the participation of HDFC AMC Select FOF I as the anchor investor.
The YourNest Continuum Fund is primarily an investment platform that supports high performing startups in the VC firms portfolio with continued capital support. Among the high performing startups in its portfolio include the likes of Miko, Dozee, Thriwe, Opkey, Twid, and Exponent Energy.
According to a statement from the VC firm, YourNest Continuum Fund I was oversubscribed with participation from several family offices and individuals. It also saw the participation of existing investors of YourNest.
YourNest Venture Capital Managing Director Sunil Goyal said, "By launching the Continuum Fund I, we are purposefully pursuing a larger ecosystem ambition for patient capital and to prioritise liquidity for our steadfast partners who have stood alongside us for over a decade.”
The Continuum fund can provide immediate liquidity to its existing limited partners and by providing capital to the high performing startups especially in the deeptech segment, it assists them by avoiding any kind of forced exit or fire sale.
YourNest has also announced the formal closure of its first fund launched in 2012 with a corpus of Rs 83.4 crore and claimed a final DPI - a key performance metric for VC investments - of 3.3x.
YourNest secured National Infrastructure and Investment Fund (NIIF) as its anchor investor in 2021 for its Fund III.