Singapore-based ThinKuvate Launches Maiden INR 100 Crore Fund For India The fund, with an investor base of nearly 200, expects to reach its first close within this quarter and start deploying capital from the next quarter
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Early-stage startup investment firm, ThinKuvate, announced the launch of their first India-focused Fund – ThinKuvate India Fund – I with a total corpus of INR 100 crore. With this fund, the network aims to back 12-15 startups annually.
The fund, with an investor base of nearly 200, expects to reach its first close within this quarter and start deploying capital from the next quarter.
"Over the last 7 years, we have built a strong portfolio of over 22 companies in India and SEA. Our understanding of both the markets puts us in a unique position of facilitating international LPs' growing interest in India. From our existing portfolio, we have already invested in Indian startups and the performance of these companies coupled with macros of the Indian economy, growing investors' interest played a crucial role in ThinKuvate launching an exclusive India fund," said Ritesh Toshniwal, Founding Partner, ThinKuvate.
Initially, it invested approximately USD 1.5 million across nine startups in Southeast Asia and India. As of date, it has since facilitated investments totaling USD five million across 22 startups in the region. ThnkKuvate focuses on B2B and B2B2C startups across various sectors, including Health-Tech, Fintech, IoT, AI-ML, Consumer-Tech, and MarTech.
"We are already evaluating several startups and are in advance stages of discussions with them. Our fund has been investing in India since 2016 and has a first hand experience of the large market and growth potential India has to offer to the World. The surge in digital adoption, conducive policy environment, has led to emergence of products and technologies from India with a "glocal" approach, blending global perspectives with local relevance. Drawing from our experience in mentoring and advising startups, we recognize the potential to extend the India playbook to Southeast Asia," added Addison Appu, Partner, ThinKuvate.
