New Delhi, April 9 -- Bay Capital Partners plans to raise about Rs.1,000-1,500 crore for a new fund targeting late-stage tech firms, joining investors chasing India's rapidly maturing digital economy.

The Mumbai-based firm's India Digital Opportunities Fund will back 10 to 15 companies in both private and public markets. To lead the vehicle, Bay Capital has brought in former Delhivery executive Sandeep Barasia and ICICI Ventures veteran Tej Kapoor as co-founders and managing partners.

"It's the first time we're doing a dedicated digital crossover fund. We're keeping the first fund fairly measured, so somewhere between Rs.1,000-1,500 crore," said Barasia, co-founder and managing partner, in an interview with Mint. "The idea is to find th...