Endiya Partners has achieved four times the returns on its first ₹175 crore fund, driven by a partial stake sale in HR technology platform Darwinbox. The early-stage venture capital firm shared this milestone on Wednesday, highlighting its strong investment strategy.
The firm reported a 4x multiple on invested capital (MOIC), a key metric that factors in both realized and unrealized gains, offering a comprehensive view of the fund’s performance.
Based in Hyderabad, Endiya has invested in several high-growth startups across enterprise technology, industrial innovation, and healthcare, including Cult.fit, cancer care platform Karkinos, and fintech startup Grip Invest.
Darwinbox recently secured $140 million in funding, with Partners Group and KKR leading the investment round. This deal reflects growing investor interest in fast-scaling startups.
Endiya expects further opportunities to exit its investments, as digital lending platform Kissht and fitness brand Cult.fit prepare for their IPOs within the next 12 months.
Among its portfolio companies, SigTuple’s AI-driven pathology platform recently signed a global distribution agreement with Japanese precision instruments company Horiba, strengthening its market presence.
Building on the success of Fund I, Endiya’s second fund has backed Darwinbox, Scrut Automation, Zluri, EyeStem, Sugarfit, Qapita, Mylo, AquaExchange, and BluJ Aerospace. Meanwhile, Fund III, supported by institutional investors like the World Bank Group’s IFC and Asian Infrastructure Investment Bank (AIIB), has invested in AltiusHub, Perceptyne, Pulse, and Nivaan Care.
India saw a strong rebound in late-stage funding last year, paving the way for major IPOs. According to Tracxn, mid-market investments also gained momentum, even as seed and early-stage funding slowed. As more companies gear up to go public, the country’s venture capital landscape continues to evolve.
