Cactus Ventures has hit the final close of its maiden fund at $75 million, while GlobalBees has raised $18 million in a debt round from Avendus.
Cactus Ventures to invest in 15 startups from debut vehicle
Early-growth fund Cactus Ventures said it has hit the final close of its maiden fund at $75 million. The fund, which was launched in 2020, will be investing in 15 companies. It has so far made six investments — Kapture, Vitraya, AMPM, Auric, Lohum, and Rubi.
The fund received commitments from domestic; as well as global investors, who comprised 40% of the capital. International investors are predominantly from the US, Singapore, the European Union and UK.
Founded by Amit Sharma, Rajeev Kalambi, and Anurag Goel, Cactus invests in Series A rounds of companies in climate-tech, healthtech, and B2B SaaS sectors.
Globalbees raises debt round from Avendus
E-commerce rollup firm GlobalBees has raised Rs 150 crore ($18 million) in a debt round from Avendus, Entrackr reported.
The company will use these proceeds towards working capital requirements and to meet general corporate expenses, the filings added. The non-convertible debentures have an annual coupon rate of 14.5%.
So far, the company has raised over $270 million. It became a unicorn in 2021 after its $111-million Series B round.
The company was last valued at around $1.12 billion. Notably, Series A and Series B also had debt components of $75 million and $30 million, respectively.