BANGALORE: Early-stage venture capital firm,IncuCapital Advisors, has launched its first fund with a target corpus of Rs 40-100 crore. The firm, a subsidiary of BSE-listed private equity firmIndiaCo Ventures. was launched this year to incubate early-stage start-ups. According to Kapil Khandelwal, member of IncuCapital Fund Advisory Committee, the fund will raise its capital from Indian investors and has already received a commitment of Rs 35-40 crore. "We might do an early closure once we reach the half-way fund raising mark, which we expect to reach in two months," he added. The fund's investment committee will include Manish Kumar and Surojit Nandy, co-founders of IncuCapital, IndiaCo Ventures' vice-chairman Rahul Patwardhan and newly-launched IvyCap Ventures' founder Vikram Gupta. The ticket size will be between Rs 50 lakh and Rs 8 crore and investments will be in early-stage ventures that could even be at the ideation stage. "We aim to invest in companies that can scale quickly," said co-founder Manish Kumar. "Considering the ticket size, we will not look at capex heavy sectors like manufacturing, unless we have a co-investor," said Khandelwal. IncuCapital is one of many such incubation funds that are focusing on the early-stage funding space. The Morpheus, a Chandigarh-based start-up accelerator, started out over three years ago as an incubator that provided assistance to fledgling start-ups. In 2010, it raised an 95 lakh-fund and started investing Rs 5 lakh in each of its incubatees. Source:- Economics Times
No comments:
Post a Comment