The fund which was originally targeted at Rs 85 crore focuses on early growth opportunities, predominantly in the healthcare and pharmaceutical sectors.

Announcing the final close of Fund II, Mr Krishna Ramanathan, founder partner, Fulcrum Venture India, said, "We view this space as a sunrise area for PE investments and with our operational expertise, can bring in a lot of value to the companies we work with."

Fulcrum Venture India Fund II, which had achieved its first close at Rs 60 crore in 2013, has already invested in Richfeel; a pioneering retail trichology company in India and Shield Healthcare, a pharmaceutical company focused on gynecology.

Unlike its first fund, where the focus was seed stage investments of up to Rs 5 crores, Fulcrum Venture India Fund II typically seeks to make investments between Rs 5 to 15 crore in early growth stage companies.

Commenting on the current investments, Mr Krishna also said, "The investments thus far have been growing very well and we're happy to see approaches from other PE firms, where up rounds are coming in at attractive valuations. This is a good sign that our strategy is well placed."

He also added, "While it's too early to see any exits, we are likely to see some of them in the market for the next round fairly soon. This could be as early as Q4 this year."

Fulcrum Venture India was established in 2000, predominantly making seed stage investments into pharmaceutical and healthcare companies.