Bangalore: IDG Ventures India, the Bangalore-based early-stage venture capital firm plans to raise a second India-specific fund of $300 million, reported Livemint.

By 2009, the firm, part of IDG Ventures that manages more than $3.7 bi llion, expects to complete raising the money. Since its inception in 2006, it has invested in eight Indian firms, including 3D Solid Compression, Kreeda, Aujas Networks, Manthan Systems, ConnectM, Ozone Media, iViz and Perfint.