Venture capital firm Cactus Venture Partners (CVP) said it has raised Rs 350 crore in funding as the fund is in active discussions with domestic and international institutional investors for the final close of its fund target of Rs 750 crore by December 2022. The fund will focus on investing in clean tech, health tech, and B2B SaaS companies in India.

Founded by Anurag Goel, Amit Sharma, and Rajeev Kalambi, CVP has been investing in technology and direct-to-consumer (D2C) startups in the early growth stage since 2021.

“The CVP team is unique in bringing together a mix of founders, investors, and operational experts to help startups that have crossed the PMF stage accelerate their growth,” said Goel, general partner of CVP. “The fund’s capital raise has proceeded at an exceptional pace.”

With a 15% commitment from the General Partners, the fund plans to deploy the fresh capital over the next three-four years.

CVP aims to leverage its complementary capabilities and capital to enable new-age purpose-driven companies to achieve their true potential. Previously, it has invested in Rubix Data Sciences, Auric, AMPM, and Vitraya Technologies.