Seedfund to help entrepreneurs succeed
Seedfund aims to provide all the guidance needed to get the business from idea to proven reality.
By INDIATIMES NEWS NETWORK |
MUMBAI: In a market where Venture Capitalists (VCs) and Private Equity (PE) players are doing deals in the $10 million range – there's a new player with a different focus: "small is beautiful".
Seedfund aims to target small, innovative start-ups with seed-stage funding of up to Rs 2.25 crores ($500,000) and also provide all the mentoring and guidance needed to get the business from idea to proven reality.
"There is a dire need for a true early-stage fund in India", said Pravin Gandhi, one of the managing partners, Seedfund. "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."
Seedfund plans to see the next generation of startups taking shape in Bombay and Bangalore – where it has its office. It hopes to pick about 20 companies to invest in – and the sectors that interest are consumer media and technology, internet, mobile, retail and other high-growth sectors.
Seedfund has backing from global leaders in venture capital space including Motorola Ventures, Reliance Capital and SVB Financial Group; international venture funds like Sierra Ventures and individual investors like Kanwal Rekhi, K B Chandrasekhar, B V Jagadeesh and Sridar Iyengar.
The fund has commenced operations and is expected to shortly name its first investments.
Seedfund aims to target small, innovative start-ups with seed-stage funding of up to Rs 2.25 crores ($500,000) and also provide all the mentoring and guidance needed to get the business from idea to proven reality.
"There is a dire need for a true early-stage fund in India", said Pravin Gandhi, one of the managing partners, Seedfund. "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."
Seedfund plans to see the next generation of startups taking shape in Bombay and Bangalore – where it has its office. It hopes to pick about 20 companies to invest in – and the sectors that interest are consumer media and technology, internet, mobile, retail and other high-growth sectors.
Seedfund has backing from global leaders in venture capital space including Motorola Ventures, Reliance Capital and SVB Financial Group; international venture funds like Sierra Ventures and individual investors like Kanwal Rekhi, K B Chandrasekhar, B V Jagadeesh and Sridar Iyengar.
The fund has commenced operations and is expected to shortly name its first investments.
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