New Delhi, May 21 (IANS): Singapore-based early-stage startup investment firm ThinKuvate on Tuesday launched their first India-focused Fund "ThinKuvate India Fund - I" with a total corpus of Rs 100 crore.
The India Fund will look to invest in tech startups across sectors with an initial amount of up to Rs 3 crore. The company aims to invest in 12 to 15 startups every year through this fund.
"From our existing portfolio, we have already invested in Indian startups and the performance of these companies coupled with macros of the Indian economy, growing investors' interest played a crucial role in ThinKuvate launching an exclusive India fund," Ritesh Toshniwal, Founding Partner, ThinKuvate, said in a statement.
Moreover, the investment firm mentioned that the the fund launch will also be announced via investor roadshows across cities in a phased manner. In the first phase, the company will roll out the fund in key cities such as Nagpur, Raipur, Bengaluru and Chennai.
ThinKuvate has received the Securities and Exchange Board of India (SEBI) approval to launch this AIF CAT 1 Fund in India. With an investor base of nearly 200, the fund expects to reach its first close within this quarter.
"Our fund has been investing in India since 2016 and has a first-hand experience of the large market and growth potential India has to offer to the world," said Addison Appu, Partner, ThinKuvate.
The fund is founded by Nagpur University alumni Ghanshyam Ahuja, Ritesh Toshniwal and Vikas Saxena.