Real Time Angel Fund Boosts Maiden Fund Size To INR 510 Cr, Marks Second Close

SUMMARY

The sector-agnostic angel fund announced the second closure of the fund at INR 125 Cr and increased the fund size to INR 510 Cr from INR 100 Cr earlier

RTAF has already invested in 10 startups from the fund, including MyMandi, Punt Partners, FreshoKartz, TransportSimple, MeraTractor, O2Nails, LarkAI, and CapitalSetu

The fund received SEBI licence in July 2022 and announced its first close in August last year

Real Time Angel Fund (RTAF), a SEBI-registered sector-agnostic angel fund, has announced the second close of its maiden fund at INR 125 Cr. RTAF also said that it has increased the total corpus of the fund to INR 510 Cr.

RTAF has already invested in 10 startups from the fund, including MyMandi, Punt Partners, FreshoKartz, TransportSimple, MeraTractor, O2Nails, LarkAI, and CapitalSetu. Overall, 300 investors have invested in these deals.

MyMandi was the debut investment of the fund. RTAF pumped in INR 4 Cr in the startup in October last year.

During the investment last year, the size of the RTAF fund was INR 100 Cr. It said then that it planned to invest in pre-seed to pre-series startups with technology at their core, with a ticket size of INR 1 Cr per startup, over the next 5 years.

The fund received SEBI licence in July 2022 and announced its first close on August 14.

The fund’s strategic investments in startups across sectors such as healthtech, fintech, agritech, personal care, AI, SaaS, and consumer technology highlight its commitment to identifying and supporting innovative companies with the potential for high growth and impact, RTAF said in its latest statement.

“Our strategic approach to investing in early-stage startups with disruptive technologies and exceptional founding teams has been validated by our portfolio’s performance to date,” said Pranay Mathur, CEO and managing partner of RTAF. “We are confident that with the increased fund size, we will be able to continue our mission of supporting and nurturing the next generation of Indian startups.”

RTAF also launched its app ‘Backrr’ in January this year to help its investors track their investment portfolio and remain up to date about their portfolio startups.

The announcement of the fund’s second close comes at a time when the Indian startup ecosystem is reeling under the impact of funding winter. However, early-stage startups have shown more resilience compared to growth- and late-stage startups in terms of funding.

In Q1 2023, Indian startups raised a total of $3 Bn, which was a 75% decline from the $12 Bn raised in the corresponding quarter of the previous year, as per an Inc42 report. While seed stage funding saw an 81% year-on-year (YoY) decline, it had the highest deal count at 102 among the various stages of funding.