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Investment firm specializing in fund of funds investments and direct investments, Northgate Capital has invested and co-sponsored Gurgaon-based early-stage venture capital firm, YourNest Angel Fund.

With this, Northgate, that currently manages about $5 Bn of assets globally will now replace Religare Global Asset Management (RGAM), the asset management division of Religare Enterprises, as a co-sponsor of the YourNest fund. It is to be noted that Religare, which manages assets of about $20 Bn globally, had acquired 26% stake in YourNest last year.

Founder and chief executive of YourNest on the investment, Sunil Goyal said, “This partnership will give us access to a greater volume of capital, as well as investment opportunities, while Northgate will have the right to invest in our portfolio of companies as they continue to scale.” Northgate will look to invest in Series B and other funding  rounds. Sunil Goyal was among the early investors in Zipdial which got acquired by Twitter recently.

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Delhi-based YourNest Angel Fund, founded in 2011 by Sunil K Goyal, Sanjay Pande and Girish Shivani is a SEBI registered venture capital fund with a corpus of $14 Mn (INR 90 Cr) investing technology and consumer Internet-focused companies.

The fund has been an investor in couple of startups, a few of its portfolio companies include online marketplace for Golf enthusiast, GolfLAN, speech recognition solutions startup, Uniphore Software Systems, audience centric digital engagement platform Simpli5d, taxi aggregator, bookmycab which was recently acquired by Jugnoo, hyper-local kids-related services, MyCity4Kids among others.

Northgate has invested in funds operated by marquee VC firms, such as Sequoia Capital, Matrix Partners and Accel Partners.

The early stage investment activity is seeing huge momentum. A few home-grown venture capital firms, which have raised money from ultra high net-worth individuals and institutions include Blume Ventures, Kae Capital, YourNest Angel Fund, Ivy-Cap Ventures and India Quotient Fund.


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