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August Capital Partners, a private equity firm focussing on start-ups in the dot.com, consumer and retail sectors have started their first round of fund raising.
“We are aiming to raise $ 25 million in the first round of funding. We have received commitments for three-fourths of it. We plan to close the first fund by January,” said an official with the firm.
The fund will also raise money in Singapore to attract overseas investments. The main investors in this fund are Indian institutional investors, family offices from the Middle East and High Networth Individuals (HNIs) from the US.
“For the second round of funding we plan to raise $30 million upwards,” said the official. One of the start-ups that August Capital is backing is scheduled to launch its Web site ‘etable.in' next month. It is based in Bangalore and has been founded by a 24-year old.
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