In first of its kind in India, two women investors teamed up to start a woman-only investment fund SAHA Fund. It would have a corpus of $15 Mn with bucketed investments ranging from $900K to $2 Mn per venture.
The fund will invest in startups founded by women entrepreneurs, or employing more that 50% woman in team or working on a product and service for women. It plans to invest in companies across ecommerce, social media, mobile, cloud, analytics, education, analytics, healthcare, food tech and tech platforms that would leverage digital.
The fund is co-founded by Ankita Vashisth and Usha Amin. Ankita bring vast experience with venture firms, with her stint at Indian Angel Network. Prior to which she was heading Tholons-Bangalore-based research and consulting firm, as MD.
SAHA has already made some investments, these include Kaaryah, Fitternity, Stelea Technologies and Joulestowatts. Kaaryah is apparel portal for woman, providing upto 18 sizes to fit started by Nidhi Agarwal in 2013. Fitternity is fitness discovery and accessory buying online platform started by Neha Motwani. It covers Delhi, Mumbai, Bangalore and Pune. Stelea Technologies is a cloud-based company started by Aruna Schwarz. And lastly, JoulestoWatts is a IT solutions firm started by Priti Sawant.
Industry veterans like Kiran Majumdar Shaw, chairman and MD at Biocon, Mohandas Pai, Chairman at Manipal Education and Avinash Vashistha, past chairman and MD at Accenture India, has also invested in the fund as limited partners.
Interestingly, Saha Fund has formed a ‘Mentors Circle’ wherein industry thought leaders would provide their valuable guidance and to the women entrepreneurs. So even if they are not investing in the company, they could add value to the startups by creating equity.