US-based venture capital firm, Entrepreneurship and Venture Capital (EVC) which is led by serial entrepreneur and investor Anjli Jain, is launching its maiden, India-focused $50 million early-stage investment fund. The fund will primarily focus to back enterprise software, internet and mobile-focused startups. It will invest in startups operating in the education sector, internet of things, ad-tech, eCommerce, wearables and gaming segments.
The fund will typically invest around $100,000-$5 million in startups. EVC also operates an accelerator programme in Gurgaon that provides physical and virtual co-working space and operational mentorship to startups. It operates a second accelerator in Cleveland, Ohio.
Prior to launching the fund, India-born, Anjli Jain had founded and invested in Kryptos Mobile (cloud-based, self-service mobile app development and publishing platform); LookingGlass Platform (provider of an integrated, software-as-a-service enterprise apps, portal and content management systems) and BlackbeltHelp, an information technology helpdesk and student services provider, among others.
Last month, several other VC firms also announced the launch of funds for Indian startups including:
- 360 Nautica has announced the launch of a seed-stage venture capital fund especially for Middle East and Indian startups. The fund will support seed-stage venture investments as well as pre-seed investments through its incubation program.
- Keiretsu Forum, one of the world’s leading angel networks with 46 chapters across three continents, is planning to start a venture fund in India.
- Technology-focused home-grown venture capital firm Zodius Capital Advisors is raising a follow-on fund of around $35-$40 million to make investments in niche eCommerce, fin-tech and business services start-ups.
- Olympic gold champion & ace shooter Abhinav Bindra, has announced the launch of a venture fund that will invest in startups. Incubation fund, called Shooting Star LLP is being started in equal partnership with consulting firm Franchise India and an initial investment of $2 million.
- Global private equity firm Advent International has raised $13 billion for its latest buyout fund. The fund will focus on five industry sectors—business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom.
- Hong Kong-based Jaarvis Labs Ltd, a technology company, started the Jaarvis Accelerator in Gurgaon last year in June, has raised $1.3 million and has a total of $2.5 million to invest in Indian startups.
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