ThinKuvate, an angel investment network headquartered in Singapore, has revealed the launch of its inaugural venture focusing on India, with a substantial corpus of Rs 100 crore. This fund is poised to invest in technology startups across various sectors, offering an initial funding of up to Rs 3 crore per startup. The aim is to support 12 to 15 startups annually through this initiative.
The rollout of the fund will be accompanied by investor roadshows conducted across several cities, starting with Nagpur, Raipur, Bangalore, and Chennai. This strategic approach seeks to tap into both emerging and established startup ecosystems within India.
Ritesh Toshniwal, a Founding Partner at ThinKuvate, highlighted their extensive experience in both the Indian and Southeast Asian markets, which uniquely positions them to cater to the growing interest of International Limited Partners (LPs) in India. The success of their existing Indian portfolio companies, combined with favourable economic indicators and heightened investor interest, served as catalysts for launching this dedicated India-focused fund.
Having obtained approval from the Securities and Exchange Board of India (SEBI) to launch the Alternative Investment Fund (AIF) CAT 1 Fund, ThinKuvate anticipates reaching its first fundraising milestone within the current quarter. The fund's founding team comprises Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena, all alumni of Nagpur University. Furthermore, the team has expanded with the addition of Mayank Jain as the CEO of the fund.
ThinKuvate distinguishes itself by providing more than just financial support. The founders actively mentor and guide startup founders throughout their growth trajectory. Noteworthy achievements include two successful exits, with one portfolio company being listed on the Australian Stock Exchange. Additionally, approximately 40 percent of their portfolio companies have secured follow-on funding rounds.