Gurugram-based investment platform Soonicorn Ventures has launched an angel fund with a target corpus and a green shoe option of Rs 250 crore ($30 million) each.
The company, which so far has been syndicating deals for its investors, has received approval from the Securities and Exchange Board of India to operate the category-I alternate investment fund (AIF).
The sector-agnostic fund will invest in startups with an average ticket size between Rs 50 lakh-4 crore. It will participate in seed to Series A funding stages.
“With the introduction of this angel fund, we aim to provide flexibility to investors and facilitate single cap-table entries for startups. Additionally, we will assist syndicates in utilising fund-as-a-service," stated Vijay Singh Rathore, chief executive officer and co-founder of Soonicorn Ventures.
In the past, Soonicorn Ventures has made investments in sectors such as drone technology, software-as-a-service, electric mobility, fintech, supply chain logistics and others.
Besides funding, Soonicorn Ventures provides mentorship and global networking opportunities to its portfolio startups. It claims that its angel investors collaborate closely with founders, offering expertise in technology, marketing, and other critical areas of business development.
The platform currently has a portfolio of around 30 startups, in which it invested in less than eight months. Its portfolio consists of startups such as Zypp, Zingbus, Samosa Party, SupplyNote, AutoNxt, Skylark, Cusmat, Savart, and many more.
It claims that it has a community of over 2,000 investors, and this number continues to grow organically.
