India, Feb. 11 -- Amid the surge in secondary transactions in the Indian startup ecosystem, Mumbai-based VC firm White Whale Ventures has received the Securities and Exchange Board of India's (SEBI) approval to float a Category II Alternative Investment Fund (AIF).

It will be a secondary deals-focussed fund with a total target corpus of INR 250 Cr, White Whale cofounder Shapath Parikh told Inc42. It will also have a greenshoe option of INR 250 Cr.

The sector-agnostic fund will focus on late stage companies which are eyeing a public market listing in 18-36 months. It will invest in 10-15 startups, with special focus on fintech and consumer-centric sectors, Parikh added.

"With this fund, we're going to focus on providing exits to other i...