Singapore-based ThinKuvate Launches INR 100 Cr Maiden India Fund With an initial investment of up to INR 3 crore in seed to Series A rounds, the India Fund would seek to invest in 12 to 15 tech startups across sectors annually.
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Singapore-based angel investment network ThinKuvate has announced the launch of its first India focused Fund – ThinKuvate India Fund – I with a total corpus of INR 100 crore.
With an initial investment of up to INR 3 crore in seed to Series A rounds, the India Fund would seek to invest in tech startups across sectors. Through this fund, ThinKuvate hopes to invest in 12 to 15 startups annually.
The fund launch will also be announced through investor roadshows across cities in a phased manner. The ThinKuvate team will launch the fund in major cities, including Bengaluru, Chennai, Nagpur, and Raipur, during the initial phase.
Ritesh Toshniwal, Founding Partner, ThinKuvate, said, "Over the last 7 years, we have built a strong portfolio of over 22 companies in India and SEA. From our existing portfolio, we have already invested in Indian startups, and the performance of these companies, coupled with the macros of the Indian economy, growing investors' interest played a crucial role in ThinKuvate launching an exclusive India fund."
With an investor base of nearly 200, the fund expects to reach its first close within this quarter.
Founded by Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena and later joined by Mayank Jain, ThinKuvate is an early-stage startup investment firm incorporated in Singapore with interests and investors in Singapore, India, the UK, the Middle East, LatAm, Australia, and the USA.
Initially investing approximately USD 1.5 million across nine startups in Southeast Asia and India, ThinKuvate Ventures claims that it has since facilitated investments totaling USD 5 million across 22 startups in the region.
The firm's primary focus revolves around investing in B2B and B2B2C startups across various sectors, including health-tech, fintech, IoT, AI-ML, and consumer-tech. ThinKuvate Ventures actively participates in seed, angel, and pre-series A rounds.
Addison Appu, Partner, ThinKuvate, said, "We are already evaluating several startups and are in advanced stages of discussions with them. Our fund has been investing in India since 2016 and has first hand experience of the large market and growth potential India has to offer the world."
"The surge in digital adoption and conducive policy environment have led to the emergence of products and technologies from India with a "glocal" approach, blending global perspectives with local relevance. Drawing from our experience in mentoring and advising startups, we recognize the potential to extend the India playbook to Southeast Asia," he added.
