(1) Promaft Partners launched its ₹1000 crore Fund I
- The GPs previously worked at Alibaba Ventures & 9Unicorns
(2) Former Defense Secretary Mr Ajay Kumar launched his investment vehicle - Mounttech Growth Fund
- Fund I nicknamed “Kavach” has a ₹250 crore corpus
(3) Maruti Suzuki launched a CVC arm called Next Bharat Ventures
- Fund I is ₹340 crore and is based in GIFT city
- Each fund will have a 15 year investment horizon versus traditional 10+2 model
(4) Yali Capital announced a ₹810 crore Fund I
- The GPs are ecosystem veterans (ex Blackstone & Florintree Capital)
- They intend to invest in 8 to 10 firms. Keenly looking at genomics and smart manufacturing
- One of their major LPs is Mr Lip-Bu Tan (Chairman of Walden International)
(5) Deep Tech Social was launched by 8X Ventures, Arctic Invent, and SanchiConnect
- Their goal is to incubate 10 DeepTech startups per year in Noida
- Will provide non-dilutive financing & aims to catalyze $100M in follow-on equity financing
(6) South Park Commons has opened up its Fellowship in India
- Right now, the focus is on building its community / membership group
- Should expect to see them launch their investment program shortly
(7) Antler launched its ARC program (Agreement for Rolling Capital) to 10+ startups
- With ARC, Antler India invests $250K at concept stage (for 9% ownership) plus up to $250K more (*)
- (*) The TnCs here is that the additional $250K is a 1-1 match with co-investor money (provided it comes within a 9 month window from Antlers 1st investment)
(8) Glade Brook Capital ($1.5bn AUM; investor in Zomato & Zepto) has started to build its India “on-ground” team
(9) The Union Budget included a ₹1000 crore allocation for venture capital investing in Space Tech (more details soon!)
(10) Gemba Capital launched its ₹250 crore ($35M) Fund II
- Adith Podhar has built a great time (++ was my earlier investor!)
➡️It is always exciting to see what other VC firms in India are up to → I personally believe that more capital & more minds are always welcome in the ecosystem - it is a net positive for Founders.
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This post was originally shared by Rahul Mathur on Linkedin.