Investment banking and private equity firm – FundVice is looking to support startups in India with a corpus of Rs 330 crore, which includes funding from its new fund Ryoma Ventures.
The company has plans to raise up to Rs 250 crore and accelerate at least 50 deals by 2021-end. In addition, it has announced setting up a sector-agnostic fund worth about Rs 80 crore.
“We have seen exciting startups 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 startups 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 startup ecosystem,” managing director at FundVice and Ryoma Ventures – Heena Aroora, said in a statement.
The company is also aiming to mop up over Rs 150 crore for startups that are yet to raise funds and are at a very initial stage, and Rs 100 crore for those entities that have established their business process and have raised funds earlier.
Source: PTI
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