FundVice To Support Indian Startups With Rs330 Crore Fund
FundVice, an Investment banking firm, said it would support startups in India with a corpus of ₹330 crore, which includes funding from its new fund Ryoma Ventures.
The firm is planning to provide over ₹150 crores for startups that are yet to raise funds and are at a very initial stage. ₹100 crores will be provided to those companies that have established their business process and have raised funds earlier.[Read: Active Venture Capital Firms In India]
The investment fund has plans to raise to ₹250 crores and accelerate at least 50 deals by 2021-end.
Also, Fundvice has announced to set-up a sector-agnostic fund with about ₹80 crores.
Talking about the fund, Heena Aroora, Managing Director at FundVice and Ryoma Ventures, said,
“We have seen exciting start-ups that are revenue-generating, but what they lack is the right support of investors. Various incubators, accelerators and mentors have been supporting the team of FundVice to support start-ups reach the heights they are at but still lack investors.
To support them, we took the decision to start this fund, with the support of everyone, as the next step towards making a dent in the start-up ecosystem.”
The investment firm said it plans to close this fund soon with its present investors. It is also looking at collaborations with other investors and funds.
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