How Multi-Act Aims To Elevate Investment Play With A $100 Mn Global Fintech Fund

How Multi-Act Aims To Elevate Investment Play With A $100 Mn Global Fintech Fund

SUMMARY

Multi-Act is a PE firm headquartered in Mumbai that invests in Indian startups through a SEBI-approved Category II AIF/VC fund

The Fund I has a corpus of INR 100 Cr and invests in next-generation fintech startups that leverage artificial intelligence, predictive analytics and other cutting-edge technologies

As part of Inc42’s Moneyball Series, we talked with Multi-Act’s Board Director Ashutosh Bishnoi and AIF Fund CIO and General Manager Sekar Iyer about its investment thesis and the upcoming global fintech fund

India has emerged as the third-largest startup ecosystem globally, home to more than 68K+ tech startups and 115 unicorns. This has attracted investment giants from all over the world, with $146 Bn infused into the ecosystem, courtesy an active investor base of 9.7K+, according to Inc42 data.Multi-Act is one such PE firm headquartered in Mumbai that invests in Indian startups through a SEBI-approved Category II AIF/VC fund. The VC business was launched in 2017 by Wharton graduate Prashant K. Trivedi, CFA and is sponsored by the parent company, Multi-Act Trade and Investments.Fund I has deployed nearly 75% of the corpus across seven investments including Gradatim IT Ventures, Raise Fintech Ventures, Origa Lease Finance, RupeeSeed, Aureus Analytics, NSE, and Orbis Financial. The remaining 25% (INR 25-30 Cr) will be invested in three or four companies by the end of 2024.By 2017, we had four portfolio strategies working in the public markets. We are now advising nearly half a dozen families on their complete portfolios.We primarily look for specific applications in investment tech and wealthtech. Then there are specialised, asset-light lending platforms, which can transform into a marketplace model and help legacy companies go a notch higher with their proprietary technology usage.We aim to maintain a highly focused portfolio and continue to provide growth capital so that our portfolio companies can scale up operationally and financially. Accordingly, we can work out a set of metrics to determine the return on capital (ROC) for our LPs.We want to stay relevant in the fintech space but must align with the changing realities of the market. Fund II will cater to those needs and explore more full-stack models. We need to look at those options and stay away from the stuff that is going out of fashion.

With the rise of a technology-focussed economy in the past decade, homegrown tech startups are now considered a lucrative asset class not only for angels and VCs but also for private equity (PE) funds, family offices, ultra-high-net-worth and high-net-worth individuals, wealth managers and more.

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