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Venture Capital
canbank.vc

Investments

36

Portfolio Exits

3

Funds

9

About Canbank Venture

Canbank Venture Capital Fund (CVCF) is a wholly owned Subsidiary of Canara Bank. Canbank Venture Capital Fund (CVCF) is a Trust set up by Canara Bank on 21st October, 1989, for undertaking Venture Capital activities. Canara Bank is the first Public Sector Bank to set up a Venture Capital Fund, duly registered with SEBI. CVCF has so far setup Five Funds with a total corpus of INR 6200 Million, of which two are closed. The portfolio investments are spread across diverse industrial segments.

Headquarters Location

6th Floor, Naveen Complex No.14, MG Road

Bengaluru,

India

+91.080.25586506

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Latest Canbank Venture News

Settlrs Raises $1 M In Funding From Canbank Venture Capital, Others

Dec 22, 2022

B2B services rental startup Settlrs on Wednesday said it has raised USD 1 million (over Rs 7 crore) fund from Canbank Venture Capital Fund Ltd and other investors. The startup — incubated at NSRCEL, IIM Bangalore (IIMB) — said the other investors are Vinod Jain Family Office, MaGeHold Pte Ltd, JN Capital and an undisclosed angel investor. The company will use this fund for business expansion into other cities and to build a next-generation fintech platform that attracts and connects users and helps vendors deploy assets into the rental ecosystem seamlessly, Settlrs said in a statement. The fund would also be utilised to expand into new portfolios, it added. “Renting as an organised business in India is in an early stage. We believe that the innovative fintech solution being introduced in Settlrs platform would result in greater adoption of our business and contribute to streamlining the unorganised rental market,” Settlrs Founder Gaurav Ranebennur said. Settlrs said it has rented out more than 35,000 assets, such as furniture, home appliances, fitness equipment and IT infrastructure, across over 50 businesses in 15 cities in India, with 25 per cent month-on-month growth in revenues. The startup allows businesses to shift from an outright purchase model to a pay-per-use model at reasonable monthly rentals. (PTI)

Canbank Venture Investments

36 Investments

Canbank Venture has made 36 investments. Their latest investment was in Koovers as part of their Seed VC - II on June 6, 2022.

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Canbank Venture Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/18/2022

Seed VC - II

Koovers

$1M

Yes

2

2/2/2022

Private Equity

Renalyx

Yes

1

1/20/2022

Seed VC

Settlrs

$1M

Yes

5

7/6/2021

Private Equity

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10

4/11/2016

Growth Equity

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10

Date

6/18/2022

2/2/2022

1/20/2022

7/6/2021

4/11/2016

Round

Seed VC - II

Private Equity

Seed VC

Private Equity

Growth Equity

Company

Koovers

Renalyx

Settlrs

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Amount

$1M

$1M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

5

10

10

Canbank Venture Portfolio Exits

3 Portfolio Exits

Canbank Venture has 3 portfolio exits. Their latest portfolio exit was Vinyas Innovative Technologies on October 06, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/6/2023

IPO

$99M

Public

1

8/28/2023

Acquired

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$99M

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10

2/9/2023

IPO

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$99M

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10

Date

10/6/2023

8/28/2023

2/9/2023

Exit

IPO

Acquired

IPO

Companies

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Valuation

$99M

$99M

$99M

Acquirer

Public

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Sources

1

10

10

Canbank Venture Fund History

9 Fund Histories

Canbank Venture has 9 funds, including Emerging India Growth Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/4/2014

Emerging India Growth Fund

Multi-Stage Venture Capital

Open

$72.58M

1

6/1/2010

Canbank Venture Capital Fund V

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$99M

10

12/31/2005

Canbank Venture Capital Fund IV

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10

12/31/2001

Canbank Venture Capital Fund III

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10

12/31/1998

Canbank Venture Capital Fund II

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10

Closing Date

7/4/2014

6/1/2010

12/31/2005

12/31/2001

12/31/1998

Fund

Emerging India Growth Fund

Canbank Venture Capital Fund V

Canbank Venture Capital Fund IV

Canbank Venture Capital Fund III

Canbank Venture Capital Fund II

Fund Type

Multi-Stage Venture Capital

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Status

Open

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Amount

$72.58M

$99M

Sources

1

10

10

10

10

Canbank Venture Team

6 Team Members

Canbank Venture has 6 team members, including current Senior Vice President, G. Shreeram.

Name

Work History

Title

Status

G. Shreeram

Senior Vice President

Current

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Name

G. Shreeram

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Work History

Title

Senior Vice President

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Status

Current

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