About This Fund
Cactus Partners Fund I is the debut venture capital fund of Cactus Venture Partners (CVP), a Mumbai-based investor focused on early-stage companies in India. The fund reached final close in February 2024 with a corpus of approximately Rs 630 crore (approximately $75 million), following an initial closing in August 2022 that raised roughly Rs 350 crore ($44 million). Cactus Venture Partners positions itself as a long-term institutional partner for founders building transformative businesses across India's fastest-growing technology sectors.
The fund targets Series A and early Series B investments, with a primary sector focus on climate technology, healthcare technology, and B2B SaaS. This thesis reflects CVP's conviction that India's next wave of breakout companies will emerge at the intersection of deep technology and India-specific market needs—whether in sustainable agriculture, digital health infrastructure, or enterprise software built natively for emerging-market conditions. The fund's investor base reflects broad conviction in this thesis: approximately 60% of capital committed by domestic limited partners—including SIDBI (Small Industries Development Bank of India), the Self-Reliant India Fund (SRI Fund), and the UP Startup Fund—with the remaining 40% from international LPs predominantly from the United States, Singapore, the European Union, and the United Kingdom, as well as domestic family offices and ultra-high-net-worth individuals (UHNIs).
Cactus Partners Fund I marked Cactus Venture Partners' entry as an institutionalized early-stage investor in the Indian venture ecosystem. The successful two-stage fundraise—completed in a challenging global venture market—validated the fund's sector thesis and its ability to attract a diversified domestic and international LP base. The fund's portfolio spans climate technology, health technology, and B2B enterprise solutions, setting the foundation for CVP's continued growth as a trusted capital partner for Indian founders at the inflection point between product-market fit and full-scale growth.