Spiral Ventures, a venture capital firm operating in Asia and Japan, is planning to deploy funds in Indian startups. As per a recent report, the firm is planning to invest almost half of its latest South Asia and Southeast Asia-focussed fund into the country.
Earlier known as IMJ Investment Partners Pte Ltd, the VC firm rebranded to Spiral Ventures in March 2017. As per the new structure, Spiral Ventures Asia Ltd is concentrating on investment activities in South Asia and Southeast Asia, while Spiral Ventures Japan LLP is targeting East Asia and Japan investments.
Commenting on the same, Yasuhiro Seo said, “It is a very positive time to enter the Indian market. I see strong businesses and the valuations are very realistic, so now is a good time to invest in India.” In India, the VC firm is looking to invest in tech startups in sectors healthcare, fintech and online-to-offline platforms.
Talking about the firm’s intentions for a dedicated India fund, partner Yasuhiro Seo said, “Maybe in the future. At this moment, we have one fund which will have 50% allocation to India and the other half to Southeast Asia.”
The final target of the Southeast Asia fund is at $50 Mn and the firm is aiming to attain it by next year. It is aiming to attain the first close of this at around $10-$20 Mn by next month.
“For India, we will look to invest $100-300K at the first stage which would be feasible. We could follow up with a Series A or B stages but for new investments we want to stick to seed,” he further added.