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.
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.
“..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.