IvyCamp and Zhucloud have entered into a partnership to provide Chinese investors access to Indian startups.
IvyCamp is a unified technology-based platform for innovation and entrepreneurship, is an initiative of IvyCap Ventures. Zhucloud is an initiative of Incapital.
Eric Shu, Director of Incapital said, “We are very excited to partner with IvyCamp that has a strong global alumni connect which mirrors our philosophy. We have seen interest from the Chinese investment community to invest in Indian Startups and, through this partnership, we aim to facilitate these investments.”
As part of the agreement, over 30 Chinese early stage VC funds such as Cyber Carrier, Fenghou Capital, Legend Capital, Plum Ventures, Grand View Capital, K2VC, Hill House Capital, Fusion Capital, Heli Capital and Chengwei Capital will invest from $200K up to $ 2 Mn in early stage startups. They are expected to invest in healthcare, fintech, ecommerce and IoT sectors.
Over the next few months, the partnership will facilitate pitches by startups by organising pitch events in Mumbai and Bengaluru.
Talking about the partnership, Anju Gupta, President and co-founder of IvyCamp said, “This partnership is another step forward in promoting our Indian startups globally and helping them get the resources and knowledge they need to be successful. Our philosophy to leverage the alumni networks to help entrepreneurs be successful resonates with ecosystems across countries and this partnership is an example of how powerful this connect can be”.
Prior to this, in April 2016, IvyCap raised about $45 Mn (INR 300 Cr) for the first close of its second fund of $90 Mn (INR 600 Cr).
Founded in 2011 by Vikram Gupta, Norbert Fernandes, and Vishal Gauri, IvyCap Ventures is focussed on early and growth-stage startups founded by the alumni of premier institutions like IITs and IIMs.
IvyCap areas of investing are healthcare, education, food-based businesses, technology, ecommerce, and mcommerce domains. The venture firm generally invests INR 25 Cr -30 Cr ($4 Mn-$5 Mn) picking up 25%-35% stake in each of its portfolio companies.
