Indian private equity firm 021 Capital has completed the first close of its inaugural fund at approximately $32 million.
021 Capital, which had an initial target of $50 million for its fund, collected investments from investors such as Indian e-commerce company Flipkart and Azim Premji Foundation.
The new fund will focus on a portfolio of 15 companies in areas such as artificial intelligence, biotechnology, agricultural technology, supply chain and logistics, and consumer internet.
Moreso, the fund will invest in startups in Southeast Asian countries such as Singapore and Indonesia.