Singapore’s ThinKuvate Marks First Close Of Its Maiden India Fund

SUMMARY

ThinKuvate made first close of its fund at INR 25 Cr, four months after the launch of ThinKuvate India Fund - I with INR 100 Cr corpus

The tech startup-focussed fund has invested in Rosh.ai, Zippee, Pantherun and NymbleUp.ai

It aims to invest in 30-40 startups with average size per investment of INR 1.5 - 4 Cr.

Singapore-based angel investment network ThinKuvate has marked the first close of its maiden India fund at INR 25 Cr.

The platform made the first close of its INR 100 Cr-target ThinKuvate India Fund – I, within four months of its launch.

The fund, which invests in early stage startups from seed to Series A, has already backed four startups, which include autonomous vehicle technology Rosh.ai, same-day delivery platform Zippee, cybersecurity startup Pantherun and workforce management solutions provider NymbleUp.ai.

The fund aims to invest in 30-40 startups with an average ticket size of INR 1.5 – 4 Cr. It claims that more than half of investors in the fund are NRI’s from various countries, including Singapore, US and UK among others.

ThinKuvate looks to co-invest with top venture capital firms and family offices to portfolio companies.

Ghanshyam Ahuja, managing partner, ThinKuvate, said, “As ThinKuvate continues to raise its target corpus, the fund plans to invest in 30 – 40 startups with an average investment size of INR 1.5 – INR 4 Cr. The fund has also attracted top tier General Partners globally, to manage the deal flow, due diligence, and overall portfolio management.

Mayank Jain, CEO, ThinKuvate, said, “The profile of Limited Partners, who are working professionals with senior roles in large corporates, would be a huge differentiator for the companies we back. Our vast network will not only bring in quality capital but provide access to the founders to accelerate their growth journey post funding from ThinKuvate.”

Launched in 2015, ThinKuvate was started by a group of close friends with an interest in angel investing with a pooled corpus of $1.5 Mn. It has been an active investor in India and SEA for the last seven years. Today, the angel network has grown to 150+ mid to senior professional NRIs.

The network predominantly focuses on investing in B2B and B2B2C startups across sectors, including healthtech, fintech, IoT, AI-ML, consumertech and martech. They have a portfolio of 24 startups across India and Southeast Asia.