Orios Venture Partners on Friday announced the final close of its USD 30 million (about Rs 222.5 crore) Select Fund I that has been raised from multiple family offices and institutions. This is the third fund raised by the venture capital firm that was launched in 2014.

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Orios had earlier launched and closed two early-stage Funds in 2015 and 2018. A pure technology fund, Orios' investment areas include new commerce, technology-led financial inclusion, new media, gaming, consumer and agritech amongst others.

Orios' Select Fund I invests between USD 4-8 million per company. It primarily does follow-on investments into its existing companies and late-stage to pre-IPO companies, a statement said.

So far, the Fund has invested in series D and E rounds of PharmEasy that has announced plans to launch its IPO in the next nine months, series B and C rounds of Country Delight, and the series C round of GoMechanic, it added. It has also invested in Mobikwik's recent round in March 2021, and the pre-IPO of Nazara technologies.

"2021 will go down in history as the year India's tech IPO story started. With our portfolio company Nazara having IPOed and, PharmEasy and MobiKwik on course to an IPO, along with half a dozen other companies, we are tremendously excited about what the future holds”, Orios Venture Partners Managing Partner Anup Jain said.

The firm's portfolio companies also include gaming company Zupee, agritech company Krishify, digital health company Beato, retail tech company Gully Network, fintech company MoneyOnClick, and EV-battery-as-a-service company Battery Smart. "Partnering closely with tech entrepreneurs has always been a hallmark for Orios. Our proprietary #Misfits program graduates companies into Series A and the Select Fund aims to continue that partnership in the mid-stages to take the companies to unicorn valuations and IPOs, all along creating alpha returns for our LPs”, Orios Venture Partners Managing Partner Rehan Yar Khan said.