- ThinKuvate launches $12M India-focused fund to back 12-15 early-stage startups annually.
- The fund will scout for investments in emerging and established hubs across India.
- ThinKuvate has invested $5M in 22 startups, with 40% receiving additional funding.
Diving into India’s startup jungle
ThinKuvate, a Singapore-based angel investor group, is ready to embark on a thrilling adventure with the launch of its first India-targeted fund, ThinKuvate India Fund I.
With a treasure chest of 1 billion rupees (US$12 million), the fund is set to make a splash in the Indian startup ecosystem. The fund aims to back 12 to 15 early-stage startups annually across various sectors, offering initial investments of up to US$360,000.
The ThinKuvate team has donned their explorer hats and is ready to uncover hidden gems in India’s startup landscape. In the first phase of their journey, they’ll be scouting for investment opportunities in both emerging startup hubs and established centers, including cities like Nagpur, Raipur, Bangalore, and Chennai.
With capital deployment set to begin in the third quarter of 2024, entrepreneurs better have their compasses pointed in the right direction!
Assembling the dream team
ThinKuvate India Fund was founded by the fantastic three: Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena.
To add more firepower to their squad, they’ve recruited Mayank Jain as the fund’s CEO. The fund has already attracted about 200 investors, and they’re expecting their first close this quarter.
Over the past seven years, ThinKuvate has been on a wild ride, investing US$5 million in 22 startups across India and Southeast Asia.
With an impressive 40% of its portfolio companies securing additional investment and two successful exits, ThinKuvate is ready to take on the Indian startup jungle once again!
To read the original article: https://www.techinasia.com/sg-angel-group-launches-12m-indiafocused-fund
