Gurgaon-based startup accelerator, GHV Accelerator has announced a strategic tie up with World Innovation Labs (WiL) and onboarding of Makoto Takano (ex-President of PIMCO Japan) as a Board Member. With these strategic tie up, the trio has announced the launch of $52 Mn fund for Indian startups.
Green House Ventures (GHV) was started by serial entrepreneur and IAN member, Vikram Upadhyaya. It provides mentorship, along with a capital of $100K, and a controlled environment for the startups. It also helps startups focus their energies on the core activities of their ventures, such as product strengthening and achieving growth metrics.
Makoto Takano is the founder of MT Partners K.K, whose core area of focus is investing and management operation of ventures. Currently, MT Partners assists 14 Companies including atomixmedia, inc., where Makoto Takano serves as CEO. Takano has an in-depth understanding of the startup world and is the Managing Director of Genuine Startups Ltd, which manages a VC fund (called the Genuine Fund). On this alliance, he said, “India is a bullish economy and I am excited to be a part of many success stories from India, that we intend to create over time.”
WiL is a Venture Capital fund based out of Japan and Silicon Valley with $400 Mn, and typically invests $5 Mn to $30 Mn in mid-to-late stage American startups and multi-stage Japanese startups. World Innovation Labs (WiL) will continue to handhold and support the growth and expansion of GHV startups in global markets, targeting Japan and the US, to help them scale and go global.
Earlier this year, Green House Ventures Accelerator took star performing startups from India to the Asia Leader’s Summit (ASL) 2016, a two day Startup Event held in Bali. Startups such as Practo, LazyLad, FitMeIn, Applop and Loginext participated in the event.
Some of the GHV portfolio companies that have recently raised funding includes Applop Mobile Solutions, and seed funding of $100K in IStyleYou. Startups including MyTaxiindia, PickMyLaundry, Adurcup, Lazylad, CaRPM, PindropMusic, FitMeIn, RoadGods and Foodport are also part of GHV.
Apart from VCs and Accelerators, the year 2016 also marked the startup initiatives from Indian Government. In January, Prime Minister Narendra Modi launched a number of initiatives to support the Indian startups, which included $1.5 Bn fund and a string of tax breaks for both the companies and their investors. The structured fund will invest in venture capital funds over a period of four years, financed by the government and the state-owned LIC.