SucSEED Indovation Fund registers a Venture Capital Angel Fund with SEBI
Bengaluru (Karnataka)/Hyderabad (Telangana)/Mumbai (Maharashtra) [India] Sept 1 (ANI/PRNewswire): SucSEED Indovation Fund received a licence as Angel Fund in the Category 1 AIF from market regulator SEBI.
The Rs 100 crore funds is sponsored by a group of active investors-mentors to nurture tech innovation and back early-stage Tech start-ups engaged in solving problems of masses, using emerging deep-tech innovations.
SucSEED Indovation Fund has grown out of SucSEED Angels Network and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation.
It is sponsored by serial angel investors, mentors, industry leaders, and people closely associated with the start-up ecosystem for a long time.
The fund sees a team of proven leaders in tech & entrepreneurship, venture capital investment, risk management, funds, and transaction management, joining together for the sole purpose of bringing tech innovation to the market.
Fund will work towards strengthening the angel investment landscape by bringing institutional investors, family offices, HNIs, and upper-middle-class retail investors to actively participate in start-ups' growth while at the same time also provide start-ups with a comprehensive umbrella network for all their requirements.
"The fund will work very closely with technology incubators like CIE-IIITH, T-Hub, and many more. The primary focus of the fund will be on Tech Innovations in EdTech, FinTech, Health-tech, Enterprise SAAS & B2B, Security & RegTech, Digital Economy & Smart City sectors. The Fund will help portfolio companies strengthen their product offering, go-to-market strategy, and build high levels of governance and transparency so that they progress to become category leaders. We will drive investments in seed to pre-series A-stages and initially invest in about 20 start-ups on an annual basis before rapidly increasing the scale of our operations and impact," said Vikrant Varshney, Co-founder & Managing Partner of Fund.
"Today's start-ups are tomorrow's legendary companies and SucSEED Indovation Fund would focus on finding passionate and focused entrepreneurs and supporting them to find capital for building innovative tech solutions, solving problems for masses, and scaling their businesses quickly," said Dhiraj Kumar Sinha, Co-founder of the Fund.
"We will focus on the early-stage Tech ecosystem and support the 'Atmanirbhar' and 'Digital Economy' initiatives & solutions meeting needs of B2C customers as well as initiatives of Corporates & Governments," said JA Chowdary, Co-founder of the Fund.
The fund will focus on Indian start-ups and help the Indian growth story. Previous extensive experience of working with the Angel community has provided insights that will help in the discovery of good start-ups and develop the best ways of guiding portfolio companies towards their goals using mentoring programs.
The experience and expertise of the Fund founders will immensely benefit the entrepreneurs who struggle at the early stages of their enterprise. The fund is expected to play a significant role in building an ecosystem for the deep-tech start-ups.
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