YourNest launches Rs 300 cr fund for startups

YourNest launches Rs 300 cr fund for startups

YourNest launches Rs 300 cr fund for startups

Early stage venture capital firm YourNest today announced the launch of its second fund with a corpus of Rs 300 crore. The YourNest India Fund II, which will tap into Indian HNIs, will focus on pre-Series A funding in 25-30 technology startups with globally-focused B2B and B2B2C models over the next 3-4 years.

Loading...

Sectors of interest include Internet of Things, electronic system design, artificial intelligence, advanced robotics, enterprise software and mobile Internet. The first close of the fund is expected in about 6 weeks, and the final close in 18 months. YourNest has also brought Vivek Mansingh, a technology veteran and startup mentor, on board as a General Partner.

Annually, the portfolio plans to fund about 4-8 ventures. “This will allow the fund to construct a concentrated portfolio where YourNest is able to co-create successful companies by mentoring and working closely with the startups,” YourNest founder and CEO Sunil K Goyal said. The first fund’s (corpus of 90 crore) commitment period was over in end-March this year with an investment in 16 companies.

“The percentage invested is 70. In keeping with international best practices, the remaining 30 per cent has been retained for follow-on rounds,” he said. Goyal added that while the initial commitment will continue to be in the range of Rs 2 to 4 crore with each startup, there will be greater opportunity to continue investments in subsequent rounds.

Share:

loading...

You may also like...

loading...