US-based Peesh Venture Capital eyes tech startups in India

BENGALURU: US-based Peesh Venture Capital is entering India to invest in tech startups and to incubate them through its accelerator. It will make these investments through its Rs 310 crore PVC II fund, which will mainly focus on consumer and enterprise software ventures.

The fund will typically invest Rs 6 crore to Rs 31 crore in exchange for an equity of 6% in growth-stage companies that fits its investment criterion. “We are looking for entrepreneurs on fire and passion to make their ideas successful,” said Peesh Chopra, managing partner of PVC. “Something has changed in the air (in India). The Indian citizens have been inspired to believe that they can also be part of the creation of an Ola or Flipkart.”

PVC also runs an accelerator based in Bengaluru and Gurgaon. It will invest up to Rs 62 lakh, provide mentoring and physical and virtual co-working space to startups in areas like internetof-things, advertising technology and education.

The accelerators are embedded with cameras and communication technologies to help entrepreneurs connect with mentors in real time. The accelerator is already working with eight startups.

Chopra has also roped in entrepreneurs and technologists like Vipul Prakash, Vikas Banga and Kurt D. Olender to provide assistance to the startups.