Utilis to raise Rs 100-crore fund for seed play

By Taslima Khan

BENGALURU: Utilis Capital Advisors, a new Bengaluru based seed investor, targets to raise a Rs 100-crore fund in the next 18 months and make the first close in the next few months.

The fund has applied for registration as an AIF Category-I Fund and will focus on early stage opportunities in tech startups only in Bengaluru, an official said.

Cofounded by eight professionals including Manishh Anand, chairman of consulting firm Kroc Flint & Candler that provides growth consulting services to startups and young companies, Utilis has a team of 20 people in the profile of startup founders and senior professionals.This team will vet deals and provide preand post-investment advisory.