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The Venture Codex

Canbank Venture Capital Fund

No.29, II Floor, Dwarakanath Bhavan, K R Road, Basavanagudi, Bengaluru, Karnataka, 560004, India

Overview

Canbank Venture is a premier domestic Venture Capital Fund. An experienced fund management company, Canbank Venture believes in adopting a General Fund philosophy and has a good portfolio of investments in several promising sectors.The fund's corpus is contributed by Public Sector Banks and Financial Institutions and Insurance Companies. Over the last 20 Years Canbank Venture has invested in several promising companies, partnered progress and posted successful exits.We invest in businesses with an established technological or market positioning edge and good growth potential. The company has a well qualified team to invest, manage and create value in its investee companies. Canbank Venture shall be investing from Emerging India Growth Fund (EIGF). EIGF is a Close Ended, Domestic & General Fund set up to achieve long term capital appreciation from equity and equity related investments in a broad based portfolio of well established Indian companies managed by professional teams

Total investments
7
Lead investments
6
Investments · 12mo
0
Active investors
0
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Investment portfolio

  • CoRover

    Participated · Series A · Sep 2024

    CoRover provides end-to-end managed ChatBot as a Service (CaaS) and an AI-based VideoBot platform that operates across websites, apps, WhatsApp, IVR, SMS, Microsoft Teams and social media. The company has developed BharatGPT, a large language model tailored for Indian contexts. CoRover serves customers across sectors including e-commerce, healthcare, finance and education. Founded by Ankush Sabharwal and Kunal Bhakhri, the startup plans to use new funds to expand its AI team and accelerate its market strategy across B2G, B2B and B2C segments. Financially, CoRover completed a $4.0M Series A in September 2024 to support these growth initiatives. The company is based in Bengaluru, India. Corover is developing BharatGPT, an indigenous large language model the company says supports more than a dozen Indian languages. Its product portfolio includes text, audio and video chatbots that can be integrated with platforms such as WhatsApp, Signal, Zoom, Salesforce and SAP. Corover counts clients across banking, insurance, healthcare, manufacturing, travel and e‑commerce, including IRCTC, NPCI, ICICI Prudential, ITC and Bosch. Founded in 2016, the startup was valued at $8.5 million as of December 2022 (per Tracxn). Google has acted as a strategic partner, providing cloud credits, and made a $500,000 non‑equity funding in March; the startup is in discussions for a subsequent equity investment to scale up BharatGPT. The company plans to use the cash infusion to scale BharatGPT following its official launch in the coming weeks.

  • Him Teknoforge

    Led · Equity · Apr 2016

    Him Teknoforge manufactures forged and machined components for the agri‑machinery, automobile and engineering sectors. The company supplies major OEM clients including Mahindra & Mahindra, Escorts Ltd and Ashok Leyland. Management plans modernization, technology upgradation and expansion at its existing plant in Baddi and at units in Pithampur and Uttarakhand to meet customer demand. Proposed capex will fund additional plant, machinery and tools to help the company achieve full capacities, enhance product value and branding, and increase business from existing and new customers. The article notes the forging industry is estimated at more than USD 3 billion, with roughly 20–25% attributed to exports. Him Teknoforge is also targeting an IPO in the next 2–3 years to fund its expansion plans.

  • Shera Group

    Led · Equity · Mar 2015

    Shera Energy Private Ltd. manufactures all grades of copper, aluminium, brass and other alloyed products (flats, rods, tubes, wires) and supplies super-enameled winding wire. The company also offers electroplating, enameling, paper covering and fiberglass taping and reports consistent production of high-conductivity copper (IACS 102%) to European standards. Production capacity grew from a 100 MT p.a. start in 2003 to over 7,000 MT during 2013–14, and Shera holds ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 certifications. Shera has established an expansion project through subsidiary Shera Metal Private Ltd. at Reengus, Rajasthan with an installed capacity of 4,635 MTPA and a capital outlay of Rs. 28 crore; the project began commercial production and targeted full capacity by April 2015. The expansion is intended to serve domestic and export markets (U.S., UK, Middle East) and Shera Metal hopes to achieve turnover of Rs. 200 crore by FY2018 while the Shera Group plans to double group turnover to Rs. 600 crore by FY2018. The company positions itself as a supplier to the electrical industry using modern manufacturing techniques and a focus on quality and precision.

  • ESDS Software Solution Limited

    Led · Equity · Feb 2015

    ESDS Software Solution is a Nashik-based company that provides data-centre and cloud hosting services to enterprise customers. The company currently operates a 50,000 sq ft facility in Nashik and counts clients such as Pizza Hut, Kafila, Essel Propack and the Maharashtra State Election Commission. ESDS plans to set up three data centres in the next 24 months, including a 2 lakh sq ft centre in Navi Mumbai slated to launch in April 2015, a planned 1 lakh sq ft centre in Bengaluru, and an additional 50,000 sq ft centre in Nashik. Management says the recent funding will be used primarily to build the Mumbai data centre and support business development. ESDS expects to close FY15 with revenue of Rs 45 crore in India. For future expansions the company intends to raise funds via a mix of debt, internal accruals and further private equity rounds.

  • Anand Teknow

    Led · Equity · Jan 2015

    Anand Teknow Aids Engineering India manufactures engineering products and ball valves for the oil & gas sector in India and the Gulf region. The company supplies 31 refineries, including 15 in the Gulf region and Malaysia, and counts IOC, HPCL and BHEL among its customers. ATAEI reported a present turnover of Rs 236 crore and is targeting a turnover of Rs 600 crore by FY2018. It plans to use new funding to expand its ball valve plants near Pune. The firm serves both domestic and regional Gulf markets as it scales production and capacity.

Team

No current team members are available.