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BizDateUp launches Rs 1,000 Cr Pulse Fund I

EntrackrEntrackr · 28d ago
BizDateUp launches Rs 1,000 Cr Pulse Fund I
Medial

BizDateUp has launched Pulse Fund I, a Rs 1,000 crore Category II Alternative Investment Fund (AIF). The fund includes a Rs 500 crore base and an additional Rs 500 crore green-shoe option. According to the fund, it will invest 50% in high-growth startups, 30% in profitable SMEs, and 20% in select real estate projects. The fund is structured as a 10-year close-ended vehicle, extendable by 2 years. It will focus on sectors such as AI, SaaS, fintech, healthtech, deeptech, defense, aerospace, gaming, EV mobility, green energy, and regtech. A special focus will be given to opportunities in tier-II and tier-III cities. The fund also promises financial, legal, and compliance checks, overseen by an NISM-certified fund manager. Founded by Jeet Chandan and 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. It has funded over 25 startups, raised a $10 million fund, engaged 1,000 angel investors, and delivered an average return of 3.5x to its backers in FY24. BizDateUp plans to expand globally by launching parallel funds in Singapore, the USA, and Dubai within 24 months, targeting over $1 billion in international capital for India’s innovation ecosystem. Earlier in May last year, BizDateUp Technologies had acquired a 20% stake in Duro Green, an environmental impact startup providing wet waste management services.

Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon

EntrackrEntrackr · 6m ago
Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon
Medial

Singularity AMC, a growth equity platform for private and PIPEs, has announced that its second PE fund, Singularity Growth Opportunities Fund II (SGOF II), is oversubscribed at Rs 1800 crore. Launched in August 2023 with a Rs 1,500 crore corpus and a Rs 500 crore green shoe option, the fund saw strong investor interest, securing its first close at Rs 500 crore within a month. It focuses on Energy Transition, next-generation industrials, Consumer, Healthcare, and Financial Services. SGOF II has already backed eight companies, including Lohum, a battery recycling startup; HEG, an energy transition platform such as Sterling & Wilson Data Centre, a data center EPC provider, Sabine, an IVF healthcare company, Classic Legends, the maker of JAWA motorcycles, Qucev, a sustainable EV manufacturer and Deal 7, a luxury watch retailer. Over the next two years, the fund aims to invest Rs 75-175 crore in 12-15 companies. Founded in 2016, Singularity AMC is led by Yash Kela and Mithun Sacheti. The firm manages three funds and has invested in Swiggy, Paytm, Jana Small Finance Bank, and Jawa. Its first fund achieved a 30% IRR and is on track to reach 3x MOIC. The fund follows a structured investment approach, with 40% allocated to late-stage companies, 40% to profitable growth-stage firms, and 20% to high-conviction venture-stage opportunities. Its current portfolio is valued at Rs 492 crore, with a Multiple on Invested Capital (MOIC) of 1.2x.

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