Early stage venture capital firm, YourNest, today announced the advisory board for its recently launched Rs. 300 cr YourNest India VC Fund 2. Sharad Sharma, co-founder and CEO of iSPIRT, Ashish Gupta, founder of Evalueserve & Benori Ventures, and Prof. Rishikesha T Krishnan, Director IIM-Indore are the first three appointees to the proposed eight-member board. The other five seats will be represented by institutional investors.
Sharad Sharma said, “YourNest aims to co-create cutting-edge technology solutions out of India. Their track record, as well as leadership, highlights their commitment to forge product leadership out of India. I look forward to work with them in shaping the next wave of techpreneurs.”
Sharad Sharma embodies entrepreneurship and technology evangelism in India and is the co-founder of iSPIRT, the think tank for Indian software products. Ashish Gupta is a successful entrepreneur and a well-known angel investor. Prof. Krishnan is a recognised expert in the area of innovations with an India focus.
The Advisory Board will offer strategic counsel to the YourNest team on investment strategy, corporate governance and leadership development. The board members bring deep expertise in building high-growth companies, reading the evolving technology landscape and define the contours of the Indian venture capital and start-up ecosystem. They would act as sounding members to drive key growth initiatives at YourNest.
Sunil Goyal, Founder & CEO, YourNest said, “YourNest’s work is expanding rapidly as we continue to back the best in the Indian startup ecosystem. In order to deliver greater value to all our stakeholders,it is critical to bring knowledgeable and diverse minds to the table.Each of our advisors brings incredible knowledge and experience in various realms of VC Funding and startup ecosystem and will make the entire team wiser with their inputs.It is humbling to have someone like Sharad be a part of the board on a pro-bono basis due to his zeal to invigorate the product ecosystem in the country.”
In late 2016, YourNest launched YourNest India Fund II with a corpus of INR 300 crores, to offer pre-Series A funding to 4-8 ventures every year. From the 4,000+ proposals YourNest receives annually, the second fund will focus on startups that operate at the cutting edge of technology. The sectors they will target include Internet of Things, Electronic System Design, Artificial Intelligence, Advanced Robotics, Enterprise Software and Mobile Internet.
From its Fund 1, YourNest has invested in companies like Arya.ai, Uniphore, Mycity4kids and GolfLan. For Fund-1, YourNest had Alok Mittal, R Satya Narayan, Badri Aggarwal, Prof MM Pant, Ramesh Dharmaji (SDIBI nominee) and Purvi Parkeria (an IIFL nominee) in its advisory board.