CerraCap Ventures, a leading early stage technology venture capital firm, today announced a strategic investment of an undisclosed amount from a unit of IIFL Wealth Management Limited (IIFL Wealth), in CerraCap Ventures Fund II.
Saurabh Ranjan, Managing Partner CerraCap Ventures, said, "We are honored to have IIFL Wealth as part of our distinguished list of Limited Partners and look forward to a strategic relationship with them."
This investment complements IIFL Wealth's strategy to connect to the world's promising startups. "We like the sharp focus of the CerraCap team on emerging technology areas. Our relationship with CerraCap Ventures will give us access to investment opportunities in the best technology businesses on a global front," said Karan Bhagat, MD & CEO of IIFL Wealth.
"IIFL Wealth is excited to be working with CerraCap Ventures and we see strong validation of their unique business model from their portfolio companies," added Umang Papneja, Senior Managing Partner, IIFL Wealth.
"Technology startups need a lot more than just capital and guidance, provided by most investment firms, to realize their complete potential. CerraCap has a diverse and highly experienced team of sales, technology and finance professionals with deep experience in technology, investment and growing startups into large organizations," said Vikas Datt, Managing Director and Partner at CerraCap Ventures. "We are proud to join forces with IIFL Wealth. This is the first step in what will be a long and strategic partnership."