Key Points
- ThinKuvate India Fund Launch: Singapore-based angel investment network, ThinKuvate, introduces its first India-focused fund, ThinKuvate India Fund – I, with a corpus of Rs 100 crore.
- Investment Focus: The fund aims to invest in tech startups across various sectors, providing initial amounts of up to Rs 3 crore per venture.
- City-wise Rollout: ThinKuvate plans to launch the fund in key cities like Nagpur, Raipur, Bangalore, and Chennai to tap into emerging startup hubs.
- SEBI Approval: ThinKuvate has obtained SEBI’s approval to launch the AIF CAT 1 Fund in India, with an investor base of nearly 200.
- Leadership and Team: The fund’s founding team includes Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena, with Mayank Jain joining as CEO.
- Investment Criteria: ThinKuvate prefers startups with revenue generation, patented products, and multiple founders to ensure market presence, innovation, and dynamic leadership.
- Investment Track Record: ThinKuvate Ventures has invested approximately $1.5 million across nine startups in Southeast Asia and India, expanding to $5 million across 22 startups.
- Future Deployment of Capital: The fund expects to commence deploying capital in the next quarter to support the growth of promising startups.
Singapore-based angel investment network, ThinKuvate, has unveiled its inaugural India-focused fund, ThinKuvate India Fund – I, with a substantial corpus of Rs 100 crore. The fund is set to invigorate the Indian startup landscape by injecting capital into tech startups across various sectors, with an initial investment capacity of up to Rs 3 crore per venture.
In a strategic move to tap into emerging startup hubs, ThinKuvate plans to roll out the fund across key cities like Nagpur, Raipur, Bangalore, and Chennai. This approach aims to foster innovation and entrepreneurship in both established and burgeoning startup ecosystems.
Ritesh Toshniwal, Founding Partner of ThinKuvate, expressed confidence in the Indian market’s potential, citing the successful track record of their existing portfolio and the favorable macroeconomic indicators. The fund has already garnered SEBI’s approval and anticipates achieving its first close within the current quarter.
ThinKuvate’s founding team, comprising Nagpur University alumni Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena, has further expanded with the appointment of Mayank Jain as CEO. Their hands-on approach, backed by robust due diligence and compliance standards, has earned ThinKuvate a strong reputation in the investment community.
Having achieved two exits and with nearly 40% of their portfolio companies securing follow-on rounds, ThinKuvate aims to leverage its expertise to add value to the startups it invests in. The fund is poised to commence deploying capital in the coming quarter, fueling the growth ambitions of promising ventures.
According to Addison Appu, Partner at ThinKuvate, the fund is already evaluating potential investments and is in advanced discussions with several startups. With a keen eye on digital adoption and a favorable policy environment, ThinKuvate sees immense potential in Indian startups to develop globally relevant products and technologies.
ThinKuvate’s investment strategy focuses on startups with proven revenue streams, patented products, and multiple founders. This approach aims to support ventures with strong market traction and innovative offerings, fostering their competitive edge in the global landscape.
ThinKuvate Ventures, initially investing around $1.5 million across nine startups in Southeast Asia and India, has expanded its footprint by facilitating investments totaling $5 million across 22 startups in the region. With its India-focused fund, ThinKuvate seeks to catalyze the growth of tech startups and contribute to the vibrant entrepreneurial ecosystem in the country.
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