Menlo Park, CA-based early-stage VC firm Inventus Capital Partners closed its second fund at $106m.
The fund will focus on investing in digital services businesses, particularly business software, internet marketplaces, mobile apps, and technology enabled services addressing a wide variety of consumer and business-oriented industries.
The firm prefers to lead a company’s first institutional round and can invest up to $10m as a company grows.
Led by John Dougery and Kanwal Rekhi, Inventus has teams in both Silicon Valley and Bangalore and is focused on early-revenue stage startups in both geographies.
Fund II has already invested in companies including Unbxd, Espresso Logic, PolicyBazaar and eDreams and expects to back a total of 20 to 25 companies.