startups

Sequoia India Ex-CMO Raja Ganapathy Launches Fund for Early-Stage Tech Startups

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venture debt fund

Raja Ganapathy, the former chief marketing officer at Sequoia Capital India, has just launched Spring Marketing Capital, a fund he co-founded along with advertisement professionals — Vineet Gupta, ex-group CEO of DDB Mudra and Arun Iyer, ex-chairman of Lowe Lintas.

Spring Marketing Capital is a combination of both, a startup fund, as well as a marketing consultancy to help established companies in their branding efforts.

The fund will invest $1 million to $2 million in a single company over a 3-year period and intends to invest in roughly five to seven companies in a year.

Through its fund, corpus of which is yet to be disclosed, Spring Marketing Capital intends to invest in early-stage technology companies and work directly with the founders to help shape the startup’s marketing and branding strategy.

A couple of months back it was reported that the team at Spring Marketing Capital is initially looking to raise $30 million (Rs 215 crore) for the fund and now it is announced that it has already received funding commitments from multiple startup founders in India and a few venture capitalists and is on track to raise around $20 million by June of this year.

About its investment strategies, Spring Marketing clears that instead of leading a funding, it would rather intends to invest by contributing in series A or a pre-series A stage funding rounds led by VC. The fund aims for an exit around two to three years after its investment at a subsequent liquidity event

Additionally, for its first year, Spring Marketing will also be offering marketing and creative consulting solution to the investments it will make.

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In an interview to Economic Times, Raja Ganapathy said, “We will work closely with the founder to understand not just the role of the product or service in the consumer’s life but also the founder’s vision for the company and accordingly shape the marketing and branding strategy.”

“The entire spectrum from crafting the value proposition to go-to-market approach to online/offline communication is our responsibility, execution can be outsourced but will still be supervised by us,” he added.

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