NEW DELHI: IDFC-Parampara Early Stage Opportunities Fund, which is backed by the Central Government's FFS Scheme (Fund-of-Funds for Startups), has logged its first full cash exit from Mumbai-based S-Cube Futuretech The company has been acquired for an undisclosed amount by US-based Bentley Systems which provides software solutions for engineers, architects, geospatial professionals and constructors. S-Cube, a software products company, had raised $1 million from Parampara Capital in 2015 and happened to be the first investment from the fund. Parampara had acquired a significant minority stake in the company. The exit from the investment at healthy IRR validates our return expectation from this asset class." Last year, IDFC Alternatives, the private equity arm of IDFC Group, had entered into a partnership with Parampara Capital to invest in earlystage technology startups.

Source: Economic Times January 22, 2018 03:00 UTC