Bengaluru, Aug. 28 -- Venture capital firms are moving onto college campuses in search of their next investments, encouraged by a growing pipeline of student-led startups and early successes from funds that began backing such founders several years ago.

Campus Fund, which focuses on student entrepreneurs, is in the final stretch of raising its third fund, a $100 million vehicle that was around Rs.850 crore when the firm started raising it last year. The fund is significantly larger than its previous two funds combined. The firm has already completed its first close and is building a portfolio of about 60 companies, all of them student-led startups.

The fundraise comes as other venture capital (VC) firms increasingly look to colleges and...