Delhi-based angel investor Dhianu Das has announced the launch of his venture capital fund, Alfa Ventures with a corpus of INR 100 Cr ($14.06 Mn). The fund will be focusing on supporting homegrown early stage startups.\r\n\r\nThrough his new venture, Das is planning to work with partners to provide the early stage entrepreneurs with a wide network of infrastructure, cross-border partnerships, and funds for scaling businesses. \r\n\r\nDas has been a prominent angel investor with companies such as GoMechanic, ClearDekho, and Cleansecar in his portfolio. The serial entrepreneur also serves as a mentor for L-Incubator at IIM Lucknow. \r\n\r\nDas had invested INR 1 Cr ($140K) in automobile repair and service solution startup GoMechanic at a time when the startup was having trouble finding investors. He had also first invested in ClearDekho at a time when its annual revenue was about INR 60K. \r\n\r\n\u201cIndia has witnessed an entrepreneurial boom in the last 10 years. However, funding still remains a challenge for homegrown startups, as they do not have a proven history, but only a passion to excel. With Alfa Ventures, we aim to reach out to more such entrepreneurs and be a part of their journey,\u201d said Das.\r\n\r\nThrough Alfa Ventures, Das will not only provide funds to the startups but will also mentor the entrepreneurs to help them scale their businesses.\r\n\r\nDas has already selected some of the businesses such as Luxury Ride, Cleansecar, Nature\u2019s Tattva, GoMechanic, Civil Cops, Aux ledger, Styleworks, and Skilancers as\u00a0Alfa Ventures' portfolio companies and will soon start investing in them.\u00a0\r\n\r\n"We are primarily focusing on early stage and seed fund so we are looking to invest between INR 1 Cr-1.5 Cr in technology-enabled companies, " Das told Inc42.\r\nGrowing Focus In Venture Capital Funds In India\r\nWith the growing Indian startup ecosystem, many entrepreneurs are coming up with interesting ideas but however many businesses fall apart due to lack of funding and support.\r\n\r\nFlipkart cofounder Sachin Bansal, who exited the company after it got acquired by Walmart, is now looking to invest in startups. In December, Bansal launched his new venture \u2013 BAC Acquisitions Pvt Ltd \u2013 along with his friend Ankit Agarwal. Through this venture, he is looking to invest in agritech and fintech sector along with other new businesses.\r\n\r\nThis month, it was also reported that Sachin Bansal had led an investment of $92 Mn (INR 653 Cr) in cab hailing giant Ola.\r\n\r\nIn October 2018, former chairman of Tata Group Cyrus Pallonji Mistry had also announced the launch of private equity venture firm, Mistry Ventures LLP which will provide seed, early stage and growth capital to startups from India and across the world.\r\n\r\nAlso, Mumbai-based industrialist Akshaypat Singhania had allocated INR 100 Cr ($14.06 Mn) for supporting early stage startups which are operating in the media and entertainment, lifestyle, food and beverages healthcare and other segments.