Mayfield raises $108 mn India Fund II

Mayfield Fund, the Menlo Park headquartered early-to-growth stage venture capital investor, is announcing the closing of its $108 million second India focused venture capital fund, dubbed Mayfield India II. A total of nine institutional investors have participated in the fund, the firm said in an SEC filing yesterday.

Earlier in January this year, the firm had said it had raised $86 million for the fund from seven institutional investors, as part of its first close. The new fund follows the $111 million Mayfield India I fund, which was launched in 2008.

“While the macro-economic climate has varied since we started investing in India in 2006, we have learned that India continues to present valuable opportunities to technology and non-technology investors. Two of our key takeaways are that tech-enabled infrastructure solutions can create great value and lifestyle and entertainment products aimed at the consumer middle class can grow into universal brands. In addition, we believe that mobile companies aimed at the 700 million mobile users and tech and tech-enabled services represent the future in India,” Mayfield managing director Navin Chadha said in a press statement.

Mayfield India II is managed by Mayfield  India II management, including Chaddha, Vikram Godse, and James Beck, and advised by MF Advisors, including Nikhil Khattau. The firm follows an early stage venture capital strategy in India, and invests between $2 million and $8 million in companies targeting the infrastructure sector, technology and technology-enabled services and the consumer middle class.

Some of the firm’s current investments here include Amagi Media, Centum Learning, Genesis Colors, India Property,, Securens Systems, Sohanlal Commodity Management, Tejas Networks, and The Beer Café.

Globally, Mayfield has $3 billion under management and is currently investing Mayfield XIV, a $365 million fund focused on venture investments in the US.

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