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The ThinKuvate group
Singapore-based early-stage startup funding agency ThinKuvate has launched its first India-focused fund with a complete corpus of INR 100 crore (US$12 million)
ThinKuvate India Fund will look to put money into 12 to fifteen startups yearly throughout completely different tech verticals with an preliminary quantity of as much as INR 3 crore (US$360,000).
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The fund prefers to put money into revenue-generating product startups that have constructed early traction and market acceptance.
The funding automobile has obtained the approval of the Indian market regulator SEBI. It expects to hit the primary shut inside this quarter.
ThinKuvate Founding Associate Ritesh Toshniwal stated: “Over the past seven years, we now have constructed a powerful portfolio of over 22 corporations in India and Southeast Asia. Our understanding of each the markets places us in a singular place of facilitating worldwide LPs’ rising curiosity in India.”
“From our present portfolio, we now have already invested in Indian startups and the efficiency of those corporations coupled with macros of the Indian financial system, rising traders’ curiosity performed an important position in ThinKuvate launching an unique India fund,” he added.
Based on Associate Addison Appu, ThinKuvate is already evaluating a number of startups and is in the superior phases of discussions with them. “The surge in digital adoption and conducive coverage surroundings has led to the emergence of merchandise and applied sciences from India with a “glocal” strategy, mixing international views with native relevance. Drawing from our expertise in mentoring and advising startups, we recognise the potential to increase the India playbook to Southeast Asia.”
Based by Toshniwal, Ghanshyam Ahuja, and Vikas Saxena, ThinKuvate primarily invests in B2B and B2B2C startups throughout numerous sectors, together with healthtech, fintech, IoT, AI-ML, consumer-tech, and martech. It participates in seed, angel, and pre-Collection A rounds to assist promising startups of their early phases of growth.
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Initially investing roughly US$1.5 million in 9 startups in Southeast Asia and India, ThinKuvate Ventures has since facilitated investments totalling US$5 million in 22 regional startups. It has two exits so far, with one portfolio firm itemizing on the Australian Inventory Trade.
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The publish Singapore-based ThinKuvate launches US$12M India-focused fund appeared first on e27.
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