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Angel Network BizDateUp Launches INR 200 Cr Fund To Back Non-Metro Startups
Inc42
ยท
1y ago
Medial
Angel investing platform BizDateUp Technologies has launched an INR 200 Cr Category I Alternative Investment Fund (AIF) to invest in technology startups in India. The fund will focus on startups from Tier-II and III cities, with a special emphasis on sustainability and social impact sectors. BizDateUp allows individuals to invest in Indian startups with a minimum capital of INR 1 Lakh. The platform claims to have raised over $10 Mn in the financial year 2023-24 from over 1,000 active angel investors. BizDateUp has already invested in over 25 startups from non-metro cities in the previous fiscal year.
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IAN marks first close of its second fund at INR 355 Cr to invest in early stage startups
Inc42
ยท
1y ago
Medial
Indian Angel Network (IAN) has announced the first close of its second venture capital fund at INR 355 Cr ($42.5 Mn). The IAN Alpha Fund aims to reach a corpus of INR 1,000 Cr ($119 Mn) and will invest in early-stage startups across various sectors. With an existing investment of INR 900 Cr ($108 Mn) in 250 startups, IAN aims to invest in over 500 startups and create 5,000,000 jobs by 2030. The fund will have a focus on both Tier-II and III cities and female founders.
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Bizdateup Cofounders Jeet Chandan and Meet Jain Pick Up Stakes In Swiggy
Inc42
ยท
10m ago
Medial
BizDateUp, a platform launched in 2020, enables angel investors to invest in Indian startups with a minimal capital requirement of INR 1 Lakh. Notably, popular cricketers such as Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna, and filmmaker Karan Johar recently invested in the foodtech giant through BizDateUp. This news follows Swiggy's filing of its updated draft red herring prospectus (DRHP) with SEBI last week, preparing for its upcoming INR 3,750 Cr IPO.
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SEBI proposes higher investment limits for angel funds
VCCircle
ยท
8m ago
Medial
India's market regulator, the Securities and Exchange Board of India (SEBI), has proposed increased investment limits and a larger pool of angel fund investors for startups. SEBI aims to enhance ease of business while ensuring that angel fund investors have the risk appetite and ability to evaluate investment proposals. The proposed changes include setting the investment range for angel funds in startups from INR 1 million to INR 250 million, allowing family trusts, corporations, and experienced individuals to participate, and capping the number of investors for each company at 200. SEBI has sought public comments before finalizing the rules.
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Hunger games: Investors at the table with appetite for food startups
Economic Times
ยท
1y ago
Medial
Homegrown food and beverage brands in India are attracting funding from early-stage institutional investors and high net-worth individuals. Investors see potential in these specialized products and the startups' expansion into non-metro markets. Examples include Pizza Wings, which received $4 million from Gruhas venture fund and angel investors. Bubble tea startup, Boba Bhai, is in talks with Titan Capital. The interest in these brands can be attributed to the gap in non-metro food retail, changing consumer preferences, and the lack of stickiness among global brands.
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Spyre Launches Maiden INR 400 Cr Fund To Back Proptech Startups
Inc42
ยท
1y ago
Medial
Venture Catalysts and Neovon-backed Spyre PropTech Venture Fund has launched a proptech fund with an initial investment of INR 400 Cr ($54 million). The fund aims to support around 30 startups in the real estate sector, with an average investment size of INR 2-8 Cr for early-stage startups and INR 15-40 Cr for growth-stage Series A and B rounds. The fund has secured an additional INR 400 Cr through a green-shoe option. The initiative has gained support from CREDAI, the apex body of private real estate developers in India.
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GVFLโs Seed Stage Fund Marks First Close At INR 100 Cr
Inc42
ยท
1y ago
Medial
GVFL Ltd's Prarambh Fund is raising INR 200 Cr to support seed-stage tech startups in various sectors such as B2B SaaS, healthtech, agritech, climate tech, and deeptech. The fund plans to invest in 25-30 upcoming startups this year, with an average ticket size ranging from INR 1 Cr to INR 3 Cr. Some of the companies in the fund's portfolio include Amrita Therapeutics, SLTL Group, and Varmora Homeware.
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Micro VC player Rockstud marks first close of second vehicle
VCCircle
ยท
1y ago
Medial
Micro venture capital firm Rockstud Capital has announced the first close of its second fund at INR 68 crore ($8.2 million). The Mumbai-based firm is targeting to raise INR 300 crore ($36 million) for the 'Rockstud Capital Investment Fund - II'. The fund aims to operate like an angel network, focusing on bridge funding for startups. Rockstud Capital will evaluate startups and offer its limited partners (LPs) the option to invest on a deal-by-deal basis.
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Anicut Secures INR 50 Cr From SIDBI's Fund Of Funds
Inc42
ยท
1y ago
Medial
Anicut Capital, an alternative investment firm, has received a INR 50 crore investment from the Small Industries Development Bank of India (SIDBI) for its Anicut Equity Fund. Anicut Equity Fund launched its Grand Anicut Fund III in June 2022 with a target corpus of INR 500 crore and an additional INR 250 crore green shoe option. The firm plans to back 12-14 growth-stage startups over the next 18-24 months from the Fund III. Anicut Capital's portfolio includes startups like Wow! Momo, Bira, Sugar Cosmetics, and ShareChat, among others.
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BizDateUp Technologies acquires 20% stake in Duro Green
Entrackr
ยท
1y ago
Medial
BizDateUp Technologies has acquired a 20% stake in Duro Green, an environmental impact startup providing wet waste management services. In addition to financial backing, BizDateUp Technologies is set to collaborate closely with Duro Green to optimize operations, implement automation, and integrate technologies. This strategic partnership will enable Duro Green to accelerate its growth plans and solidify its position as a frontrunner in sustainable waste management solutions. Founded by Jeet Chandan and co-founded by Meet Jain, BizDateUp is an ecosystem enabler for startups offering comprehensive support services to visionary entrepreneurs to the forefront of their industry. BizDateUp empowers startups to challenge conventions, pioneer new solutions, and drive meaningful change in their respective fields. BizDateUp claims to have funded over 25 startups, raising a $10 million fund, and engaging with more than 1,000 active angel investors. Duro Green operates as a wet waste management company, offering comprehensive waste solutions to businesses and communities nationwide. With a focus on sustainable practices and environmental responsibility, the company utilizes advanced technology and innovative approaches to ensure efficient waste handling and reuse.
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IVY Growth launches Rs 250 Cr Arigato Capital fund
Entrackr
ยท
1y ago
Medial
Micro venture capital firm IVY Growth Associates has announced the launch of Arigato Capital, a SEBI-registered Category I AIF Venture Capital (VC) fund, with a target corpus of Rs 250 crore. This sector-agnostic fund is set to invest in startups across a variety of sectors, including agritech, cleantech, generative AI, fintech, consumer brands, and software-as-a-service (SaaS) companies, the fund said in a press release. Arigato Capital aims to begin raising capital in June 2024, with plans to close all commitments over the next 15 to 18 months. The Venture Capital (VC) fund targets a first close at Rs 100 crore and will focus on startups beyond the seed stage or in pre-series A stages, offering an average ticket size of $500,000. Founded by Prateek Toshniwal, Rachit Poddar, Mehul Shah, and Sharad Todi, IVY Growth Associates claims to have invested in over 100 growth-stage startups. The firm has deployed Rs 20 crore from its fund and utilized more than Rs 80 crore from syndicate funds within its network. IVYโs portfolio includes notable brands such as Rupeek, BluSmart, and Zappfresh. In addition to launching Arigato Capital, IVY Growth Associates will host the third edition of its startup summit, 21 BY 72, from June 15 to June 16 in Surat. The summit is expected to attract over 20,000 participants, including more than 200 startup founders, 200 venture capitalists, and over 500 investors.
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