ThinKuvate marks first close of maiden India fund, invests in four startups
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ThinKuvate marks first close of maiden India fund, invests in four startups

By Aman Rawat

  • 30 Sep 2024
ThinKuvate marks first close of maiden India fund, invests in four startups
ThinKuvate's team

Singapore-headquartered early-stage startup investment platform ThinKuvate has made the first close of its Rs 100-crore target maiden India fund, ThinKuvate India Fund—I.  

ThinKuvate made the first at Rs 25 crore within four months of its formal launch.  

The fund, which invests in early-stage startups from seed to Series A, has already invested in four startups. The vehicle follows a sector-agnostic approach and invests in founders with complementary skills, a clear path to profitability, and scalable business models.  

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It usually co-invests alongside top venture capital firms and family offices. Its primary focus revolves around investing in B2B and B2B2C startups across various sectors, including healthtech, fintech, IoT, AI-ML, consumertech, and martech.  

“We have been investing in Indian startups and saw the potential growth opportunities. That led us to launch an India-focused fund, we have reached the first milestone in little over 100 days,” said Ghanshyam Ahuja, managing partner, ThinKuvate. “This validates our thesis on the next-gen innovations taking place in India, which have a global appeal.”  

The fund plans to invest in 30-40 startups with an investment size of Rs 1.5-4 crore. It claims that more than half of investors in the fund are NRIs from various countries, including Singapore, Australia, the US, the UK, and Indonesia. 

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“..The profile of LPs, who are working professionals with senior roles in large corporates, would be a huge differentiator for the companies we back. Our vast network will not only bring in quality capital but provide access to the founders to accelerate their growth journey post-funding from ThinKuvate,” said Mayank Jain, chief executive officer, ThinKuvate.  

The four investments by ThinKuvate include autonomous vehicle technology Rosh.ai, same-day delivery platform Zippee, cybersecurity startup Pantherun, and workforce management solutions provider NymbleUp

 

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