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Ex-IFC executive Sayan Ghosh launches Rs 300 Cr OG Capital fund

EntrackrEntrackr · 8m ago
Ex-IFC executive Sayan Ghosh launches Rs 300 Cr OG Capital fund
Medial

Ortella Global Capital (OG Capital) has announced the launch of its Rs 300 crore ($36 million) venture capital fund. The firm positions itself as India’s first and only VC fund dedicated to co-building companies in partnership with founders. OG Capital adopts a co-building model, offering funding and hands-on support to help startups grow and scale into potential unicorns. The fund plans to invest in over 20 companies, up to Rs 15 crore ($2 million) each, and has already backed three promising startups. It aims to deliver a 50% CAGR, targeting 10X returns for its investors. According to the VC firm, it will target early and growth-stage startups across consumer and enterprise solutions. “We are not only targeting 10x returns for our investors but are also co-building companies that prioritize grassroots-level impact, sustainability, and gender diversity,” said Sayan Ghosh, managing partner of OG Capital. Ghosh brings over a decade of experience as an entrepreneur, investment banker, and investor. During his more than three-years tenure at the World Bank, he was instrumental in driving investments and exits for companies like Lenskart, upGrad, 1mg, and BigBasket. According to a press release, Ghosh has a track record of delivering exits worth more than Rs 1,500 crore ($200 million) at a 40% CAGR. In addition, as a limited partner, he has deployed Rs 2,500 crore ($300 million) after evaluating over 350 funds, including venture capital, growth equity, private equity, and venture debt funds across India.

GetVantage launches Rs 100 Cr Rise-Up Fund for women entrepreneurs

EntrackrEntrackr · 1y ago
GetVantage launches Rs 100 Cr Rise-Up Fund for women entrepreneurs
Medial

Alternative-financing fintech platform GetVantage has announced the launch of its Rise-Up Fund which is dedicated to supporting women entrepreneurs’ businesses with the capital. With an initial corpus of Rs 100 crore, This non-dilutive fund aims to deploy the capital in the next 12 months. GetVantage has also announced a partnership with diversity-focused network Encubay. Founded in 2020 by Bhavik Vasa, GetVantage is an alternative funding marketplace and growth platform that provides non-dilutive capital to SMEs. It facilitates data-driven investments from Rs 5 lakhs to Rs 20 crore to scale growth for businesses. According to the Mumbai-based firm, it will disburse the funds through its own NBFC GetGrowth Capital, along with Varanium’s Debt Fund partnership, among other NBFCs and AIFs. In January, it announced its SaaS Accelerator Fund II with a corpus of Rs 250 crore. According to GetVantage, its platform provides various non-dilutive working capital solutions for marketing, inventory, logistics, and other recurring CapEx to businesses across sectors, including B2B SaaS, eCommerce, D2C, edtech, cloud kitchens, and many more. The company says that it has registered more than 15,000 signups on its platform and invested in over 850 new-age businesses in India. GetVantage added that it has previously partnered with women’s community leap.club in 2023 to drive engagement amongst women entrepreneurs across India. The partnership brought women founders, investors, and enablers together via community outreach helping forge strong connections, conversations, and growth. According to a report by the World Economic Forum and IFC, women-led businesses in India faced an unmet credit gap of more than $11.4 billion, and these same women founders received only 5.2% of the outstanding credit granted to enterprises by Indian public sector banks.

IVY Growth launches Rs 250 Cr Arigato Capital fund

EntrackrEntrackr · 1y ago
IVY Growth launches Rs 250 Cr Arigato Capital fund
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. IVY’s 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.

Velocity launches Rs 400 Cr festive season fund for D2C brands

EntrackrEntrackr · 11m ago
Velocity launches Rs 400 Cr festive season fund for D2C brands
Medial

Cash flow-based financing platform Velocity has launched a fund of Rs 400 crore ($48 million) to support D2C and e-commerce brands in the upcoming festive season sales. The Bengaluru-based firm had launched a Rs 250 crore fund for the festive season last year. This financing will support brands and sellers on major e-commerce platforms (such as Amazon, Flipkart, Myntra and Shopify) and new-age quick commerce platforms (like Blinkit, Instamart, Zepto) in enhancing their product assortment, accelerating delivery timelines, and capitalize on emerging trends such as premiumization. The fund will allow brands to invest in inventory, marketing, and operational expenses without diluting their equity, Velocity said in a press release. According to market research, e-commerce sales are projected to see 20% growth in the 2024 festive season as compared to 13% growth in e-commerce GMV (gross merchandise value) last year. Velocity is indulged with the largest ecommerce marketplaces and several ecosystem enablers to support the upcoming festive demand across sectors such as beauty and personal care, apparel/ fashion, consumer electronics, food and beverages, home, garden and kitchen, jewelry and accessories, healthcare and other e-commerce categories. Co-founded in 2020 by Abhiroop Medhekar, Atul Khichariya, and Saurav Swaroop, Velocity focuses on democratizing access to working capital for the various sectors. The platform leverages digital-first businesses’ data and online cash flows to offer innovative financing solutions. It provides non-dilutive debt financing to e-commerce founders. Velocity says that it has leveraged its partnerships with India’s leading NBFCs and regulated entities to empower over 1,500 e-commerce brands like Koskii, Power Gummies, Hammer, Bella Vita Organic, Bewakoof, Bunaai, Leaf, Crossbeats, Blaupunkt, Zlade, and Soulflower among others. It also says that it has disbursed over Rs900 crores, enabling over 1,500 businesses, especially D2C and e-commerce companies. Velocity has raised $30 million in equity funding led by Valar Ventures and competes with the other players in this space like GetVantage, Klub, Clearco, CRED Mint, Wayflyer, and KredX.

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