Global startup investment bank, JPIN Thursday said it has launched 2 strategic funds in India and UK to boost investments into the startup ecosystem across emerging markets.
The JPIN Global Fund, launched in the UK has a corpus of $130 million (Rs 991 crore) and the JPIN India Fund comprises of $20 million (around Rs 152 crore). The India fund is an industry-agnostic one that will primarily focus on small and medium enterprises (SMEs) in the country.
JPIN said that it aims to lead investment rounds by allocating its initial committed capital pre-series A round onwards over a period of 3 years and the remaining capital will be set aside for follow-on rounds.
According to the statement, the JPIN India Fund will have a green shoe option of $7 million approximately Rs 53 crore, in the name of Mastermind JPIN Capital Partners Fund, a SEBI-registered category I alternative investment fund, raised in collaboration with business advisory service and financial consulting firm, Mastermind Financial Services Pvt Ltd.
"India is home to around 63 million SMEs that are the backbone of the socio-economic development of our country. With a target to contribute 50% to India’s GDP by 2024-25, the sector is all geared to lead the next growth story. Our strategic fund will ensure that these SMEs have access to global capital whilst providing our investors an opportunity to invest in stable businesses that are creating a valuable impact and giving VC expected returns," said Nayan Gala, founder of JPIN.
In March, JPIN said that it plans to raise $50 million (around Rs 381 crore) to help cleantech startups ramp up operations and expand their global footprint in partnerships with venture capital firms.
Headquartered in London, JPIN works across the world’s emerging markets- India, Africa, Latin America, Israel, Singapore, CIS, the US, and Europe. It has an investor base of over 2,000 UNHNIs (ultra-high net worth individuals) and global family offices. Earlier, JPIN had focused and invested in the early stages of growth (pre-series A) enabling startups to scale with its proprietary network.
“Backed by operational intelligence, JPIN has a proven track record of fund-raising and investment activities in emerging markets across the globe. Through the JPIN Global Fund, we aim to back potential unicorns and decacorns of tomorrow with international capital and help them scale globally, thus enabling them to achieve their true potential," said Gaurav Singh, founder of JPIN.
