The new fund will focus on edtech, fintech, health, commerce and consumer internet. It will also invest in robotics, artificial intelligence, software-as-a-service and enterprise software, it said in a statement.
The investors in the fourth fund include domestic and global family offices, sovereign wealth funds as well as emerging market Fund of Funds, it added.
The venture, known for backing some of India's best known start ups, has more than $600 million of assets under management.
Its portfolio of 30-35 companies includes hyperlocal courier startup Dunzo, social-media app Koo and healthtech startup Healthifyme.
(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Dhanya Ann Thoppil)