Manish Kheterpal, a private equity veteran has released a fund of $15 million (around Rs. 100 crores), especially for technology-based startups.
An India-based, Sebi-registered fund that will primarily target on the Series A space to pre-Series A, is all set up to bet on the technology startups, that deals in different sectors including ed-tech, health-tech, mobile apps that focus consumers, and fin-tech and more.
Manish Kheterpal said, “This is the best time to launch a new fund because the entrepreneurial activity has not come down as the ecosystem is maturing more now, and some froth is coming out.”
As per the words of Kheterpal, Initially, WaterBridge Ventures will invest between Rs 75 lakh to Rs 3.5 crore in around 12-15 ventures and has five to seven years fund life cycle.
To make it one of the exceptional investment vehicles and to actively tap domestic institutional investors, a number of family offices, high-net-worth folks and businesses have provided their back. However, Kheterpal declined to reveal the names of the fund’s backers, citing confidentiality.
WaterBridge Ventures made its 1st investment close to $5 million that has already encountered the entry of copious investment vehicles. It will be considered as the latest VC fund, launched in 2016.
Kheterpal, also added, “It helps that VCs have tightened the tap for later stages of funding, as those help with entrepreneurs driving sharper business plans in earlier stages, valuations are more realistic and conversations are more sensible.”
The increasing competition in the start to early-stage investment space has reached to a point where growth-stage businesses capital funds have become immensely careful regarding writing high-amount cheques, taking a step back from their anxious deal making speed over the previous 02 years.
He further clarified that his angel investments in companies like Baxi (bike-ride hailing app) and EduKart (an education marketplace) will not be considered into the fund.
About Manish Kheterpal-
Manish Kheterpal is named among the most prestigious angel investors in the country. He is also named as one of the most famous private equity investment experts in the country and contributed his services in some of the biggest PE firms working in India, counting Providence Equity Partner and Actis.
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In February 2016, Kae Capital, owned by Sasha Mirchandani, has lifted $30 million from existing and new investors. While another firm that has been closed its latest $920 million funds is Silicon Valley heavyweight Sequoia Capital. It is expected that a major part of mentioned funds to be invested in the country.
In April 2016, Ideaspring, a latest tech-focused business capital firm, was introduced by angel investors Prashant Deshpande and Naganand Doraswamy, along with Arihant and Amit Patni, Patni Computers’ scions.
Stats by Startupsfeed–
According to research, in Q1 of 2016, $97.9 million has been invested in 236 pre-Series A stage startups. To offer some viewpoints, only 29 late-stage deals, 11 Series-B deals (value $76 million) and, 31 Series-A deals (value $133 million) took place in the previous quarter.