Mumbai: Peesh Venture Capital (PVC), a US-based venture capital firm, said on Thursday that it had launched a $50 million (Rs.301 crore) fund focused on early-stage investments in India. PVC aims to build and support technology ventures in sectors like the Internet of things (IoT), mobile space, ad-tech, e-commerce, gaming and education.

“India has emerged as one of the most promising entrepreneurial landscape globally. In the last 5 years, India has seen a rise of companies of global potential and acquisitions by global Internet giants. This is indicative of the innovative technologies that the entrepreneurs are capable of building,” said Peesh Chopra, managing director, in a statement.

PVC is looking to invest between $100,000 to $5,000,000 from its fund PVC II in exchange for equity in growth-stage companies that fit its investment criteria.

PVC has three accelerators in Bengaluru and Gurgaon that provide physical and virtual co-work (office) spaces to entrepreneurs. In addition to this, it also provides financial, strategic, technical and operational mentorship to founders to help them transform their ideas into viable business propositions.