StartupXSeed Ventures is looking to increase the corpus of its first startup fund to $15.4 Mn (INR 100 Cr) from the current $4.64 Mn (INR 30 Cr) by the end of 2017. The Bengaluru-based venture capital firm currently manages Aaruha Technology Fund (ATF) launched in August 2015.
The fund will focus on investing in seed-stage startups, with an emphasis on innovation, IP creation, and disruptive technologies. The sectors in consideration would be security, semiconductor, embedded devices, Internet of Things (IOT), machine learning, and AI product & services. The ticket size will range from $77K (INR 50 Lakhs) to $185K (INR 1.2 Cr).
As B. V. Naidu, Managing Partner at StartupXSeed stated, “In the next six months we are looking at investing in six companies with our ATF fund and our goal for next 18- 24 months is to invest in 20-25 companies.”
StartupXSeed Ventures: A Brief Overview
StartupXSeed was launched in 2015 by five of the industry stalwarts including – B. V. Naidu, former Director at Software Technology Parks of India (STPI); Mohandas Pai, co-founder of Aarin Capital; V. Balakrishnan, former Infosys Board Member; Ramakrishnan V, ex–CDO & M&A Head HCL; and Ravi Thakur, an entrepreneur and mentor. Except for Ravi Thakur, the other four co-founders are also the acting General Partners for the fund.
In addition to the above, the startup fund is also backed by the other Investors (Limited Partners) like Janakiraman – Ex- Co-Founder MindTree, Dr. Sridhar Mitta – MD NextWealth, Krish Gopalakrishnan – Former CEO and Board Member Infosys and Avinash Vashistha – Former India MD Accenture, M.R. Jaishankar. Chairman & Managing Director, Brigade Group to name a few.
Along with financial support, the venture firm also provides strategic support, market access, mentorship, and guidance with its Investor/Advisory Board to the startups. The firm currently has a team of 16-17 startup mentors.