India launches Seedfund with Rs 2.25 cr
Wannabe or struggling entrepreneurs have a reason to smile. Seedfund which focuses only on seed stage funding has been launched in India.
By TNN |
BANGALORE: Wannabe or struggling entrepreneurs have a reason to smile. Seedfund which focuses only on seed stage funding has been launched in India. The venture will target small, innovative startups with funding of up to $500,000 (Rs 2.25 crore).
Apart from the funding, the firm will also provide mentoring and guidance needed to get the business from idea to proven reality. Seedfund has backing from venture capital firms including Motorola Ventures, Reliance Capital and Silicon Valley Bank, Sierra Ventures and individual investors like Kanwal Rekhi, K B Chandrasekhar, B V Jagadeesh and Sridar Iyengar.
"In the eco-system, entrepreneurs need a lot of support after they start and before they scale up to a size where they can attract a larger VC's attention. We exist to plug that gap," said Pravin Gandhi, managing partner, Seedfund.
Bharati Jacob, managing partner, Seedfund based in Bangalore said, "We see the next generation of startups taking shape in Mumbai and Bangalore. Over the next few years, we hope to pick about 20 companies to invest in and the sectors that interest us are consumer media and technology, internet, mobile, retail and other high-growth sectors."
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
