IFC may invest upto $5Mn in Infuse Capital - an incubation and early stage fund aimed at seeding and supporting scalable ventures in India through equity investment up to US $1.5Mn per venture.
Infuse is housed at Indian Institute of Management Ahmedabad's business incubator – the Centre for Innovation Incubation and Entrepreneurship ("CIIE") - and currently backed by BP Ventures (BP's corporate venturing arm) and Government of India's Ministry of New and Renewable Energy (MNRE) & Technology Development Board (TDB).
Infuse aims to raise a US$25 Mn fund that will invest in technology and business model innovation based entrepreneurial solutions across the cleantech vertical. INFUSE will bridge the early-stage equity gap in this sector and simultaneously build an enabling ecosystem for eco-ventures in India.
Innefu Labs, an authentication security firm, is planning to raise about R16 -23 Cr ($2.5 – 3.5 Mn) in Series A round for a 20% stake . The company intends to close the round in next three months and is in advanced talks with the VC funds.