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Karnataka announces Rs 1,000 crore Quantum Mission, VC fund for startups - The Economic Times
Economic Times
·
8d ago
Medial
The Karnataka government has launched a Rs 1,000 crore Quantum Mission to establish a $20 billion quantum economy by 2035, aiming to make the state the "Quantum Capital of Asia." Initiatives include a Quantum Venture Capital Fund backing over 100 startups, a Quantum Hardware Park, and innovation zones. The mission will create 10,000 jobs, pilot applications in multiple sectors, and develop 1,000-qubit quantum processors, enhancing governance and various industries.
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India's National Quantum Mission, Led by Ajai Chowdhry
deepnewz
·
1y ago
Medial
India's National Quantum Mission, led by Ajai Chowdhry, has received a boost of Rs 6,000 crore. The mission emphasizes the need for quantum readiness and security. The goal is to integrate startups and financial institutions to stay ahead in the global quantum race.
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Cedar Capital announces first close of Rs 240 crore Fintech VC fund
Economic Times
·
1y ago
Medial
Cedar Capital, a joint investment venture by Cedar Consulting and IBS Intelligence, has announced the first round of fundraising for its Fintech Venture Capital fund. The fund aims to raise Rs 240 crore ($30 million) and has secured capital within the range of Rs 50 to 75 crore. It plans to invest in around 15 early-stage startups, focusing on banking technology and B2B fintech startups. The limited partners include leading family offices and institutional investors from India and the Middle East. The fund aims to support seasoned entrepreneurs building solutions for BankTech and enterprise fintechs catering to financial services players.
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Karnataka eyes $20 billion quantum economy; aims to outpace southern rivals - The Economic Times
Economic Times
·
24d ago
Medial
Karnataka plans to develop a $20 billion quantum economy by 2035 through its 'Quantum Action Plan', focusing on research, manufacturing, education, and industry support. With incentives for startups and researchers, the state aims to leverage its strong tech base and infrastructure to outpace rivals like Andhra Pradesh. Collaborating with institutions like IISc and emphasizing intellectual property and production, Karnataka seeks to integrate quantum technology in sectors like health and education.
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Venture firm Promaft Partners announces inaugural Rs 1,000 crore fund
Economic Times
·
1y ago
Medial
Promaft Partners, a venture capital firm led by Raghav Bahl, former head of investments at Alibaba Group, is raising its first fund worth Rs 1,000 crore with a greenshoe option of Rs 200 crore. The firm, which aims to identify startups with strong product-market fit (PMF), plans to invest in 10 to 12 firms after they have achieved PMF. The fund has attracted capital from Indian family offices and founders of prominent companies like Paytm, Zomato, and PharmEasy. The first close of the fund is expected later this year.
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Early stage VC IvyCap Ventures announces final close of third fund at Rs 2,100 crore
Economic Times
·
1y ago
Medial
Venture capital firm IvyCap Ventures has closed its third fund at Rs 2,100 crores (~$280 million). The firm plans to invest in 25 early-stage startups, with an average investment amount of Rs 30-50 crore. IvyCap has already invested 40% of the capital from the fund in startups like Dhruva Space, Snitch, Celcius Logistics, GradRight, Eggoz, and Flexifyme. The fund attracted investments primarily from domestic limited partners and local family offices. IvyCap also set aside Rs 100 crore for seed-stage investments. The firm is looking at disruptive sectors like consumer tech, health tech, fintech, and climate tech.
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Cabinet approves Rs 1,000-crore VC fund for space startups
Money Control
·
9m ago
Medial
The Indian government has approved a venture capital (VC) fund worth Rs 1,000 crore to support the growth of space startups. The fund, planned to be deployed over a period of five years, will provide early-stage funding for startups in the space sector. Managed by a professional manager, the fund aims to drive innovation in satellite technology, launch vehicles, and space applications, and support approximately 40 startups. By boosting employment across the space supply chain, the initiative seeks to position India as a leading space economy and foster a vibrant innovation ecosystem.
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Mumbai-based venture debt firm Alteria Capital announces final close of Fund III at Rs 1,550Cr
IndianStartupNews
·
1y ago
Medial
Mumbai-based venture debt firm Alteria Capital has closed its third fund at Rs 1,550 crore, exceeding its initial target of Rs 1,000 crore. The firm aims to continue supporting startups across various sectors, including consumer brands, fintech, and emerging areas like Gen AI and spacetech. It has already deployed 50% of the fund's capital to ventures such as OneCard and Renee Cosmetics, with a goal to back around 100-125 companies by December 2026. In addition to its venture debt fund, Alteria has introduced a shorter-duration scheme to address the short-term capital needs of startups in the consumer and fintech sectors.
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Hyderabad Angels Fund launches Rs 150 Cr VC fund
Inshorts
·
1y ago
Medial
Hyderabad Angels Fund has launched its inaugural venture capital fund, classified as a Category 1 AIF, with an initial investment pool of Rs 100 crore along with an optional additional greenshoe of Rs 50 crore. The fund will be tailored for tech and AI-driven startups prioritising scalability. It aims to invest up to Rs 5 crore each in 20 startups.
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Alteria Capital announces final close of Fund III at Rs 1,550 Cr
Entrackr
·
1y ago
Medial
Mumbai-headquartered venture debt firm Alteria Capital has announced the final close of its third fund at Rs 1,550 crore (approximately $187 million). The fund was oversubscribed with a target size of Rs 1,000 crore and a green shoe option. Alteria Capital, which has backed startups such as Rebel Foods, BlueStone, OneCard, Ather and Captain Fresh, will continue backing startups across consumer brands, e-commerce, fintech, logistics, business-to-business platforms, rural and agritech, healthcare, and climate tech. It will also evaluate companies in the Gen AI and spacetech segments. While it closed the venture debt scheme at Rs 1,550 crore, the shorter duration scheme, currently under subscription, is expected to raise around $105 million. The shorter duration scheme is likely to see its final close by the end of 2024. It will be available to all portfolio companies with the average cheque size ranging between Rs 3 crore and Rs 100 crore. The fund has already deployed 50% of the total capital commitments to portfolio companies, including OneCard, Renee Cosmetics, Samunnati, Blissclub, Rebel Foods, Giva, Lead School, Kissht, Captain Fresh, Traya, BlueStone and Ather.
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Union minister Jitendra Singh announces a Rs 1,000 crore funding scheme to boost space sector startups
Economic Times
·
4m ago
Medial
Union Minister Jitendra Singh announced a Rs 1,000 crore funding scheme to boost space sector startups in India, aiming to make them globally competitive. The fund, managed by SIDBI Venture Capital Limited, will be deployed over five years, starting with Rs 150 crore in 2025-26. This initiative is part of a broader government effort to increase the budgetary allocation for space and enhance private sector participation, as outlined in the Indian Space Policy approved in April 2023.
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