ThinKuvate launches Rs 100 crore India-focussed fund

Bengaluru, 22 May: Singapore-based angel investment network ThinKuvate has launched a Rs 100 crore fund, which will focus on investing on technology startups in India.

ThinKuvate India Fund is company’s first India-focused fund, and will take a sector-agnostic approach. The fund will invest up to Rs 3 crore as initial amount in startups, the company said in a release. The fund house aims to invest in 12-15 startups every year.

According to the company, the fund house will start deploying funds from July onwards.

“We are already evaluating several startups and are in advanced stages of discussions with them. 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,” Addison Appu, partner of ThinKuvate said.

According the fund house, it will prefer startups that are revenue generating and have built early traction and market acceptance, patented product startups, and two or more founder startups.

In the first phase, ThinKuvate will roll out the fund in cities such as Nagpur, Raipur, Bengaluru and Chennai to tap into emerging startup hubs, besides established centres, it said. These will be investor roadshows across cities.

ThinKuvate has received clearance from the Securities and Exchange Board of India to launch this alternative investment funds category I fund. With an investor base of nearly 200, the fund expects to reach its first close within this quarter.

ThinKuvate is an early-stage startup investment firm, founded by Nagpur University alumni Ghanshyam Ahuja, Ritesh Toshniwal and Vikas Saxena. It has interests and investors in Singapore, India, the UK, the Middle East, Latin America, Australia and the US.

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