September 27, 2024: An innovative new venture MudhalVC has been launched by Suresh Sambandam to empower early-stage startups in Tamil Nadu, targeting both Tier I and II cities. With a commitment of ₹125 crores, this Venture Firm aims to provide essential funding and resources for entrepreneurs at the idea stage.
By fostering entrepreneurship, MudhalVC is set to become the Y Combinator of Tamil Nadu, driving the state’s ambition for a trillion-dollar GDP.
MudhalVC is targeting emerging markets within Tamil Nadu. The initiative not only supplies capital but also delivers mentorship and strategic resources to budding entrepreneurs. “Founders with game-changing ideas often struggle to find resources at the formative stage,” said Sambandam.
His commitment to validating and nurturing startups is clear through the firm’s accelerator program, ‘Idea Pattarai,’ which has already engaged over 1,000 founders in intensive workshops, leading to more than 75 startups receiving mentorship.
MudhalVC to curate a diverse ecosystem of innovation that aligns with future trends
The fund has already made significant strides across various sectors, investing in groundbreaking companies like Amura, Bversity, BookingBee, MeenSatti, and more. With a focus on industries such as foodtech, electric vehicles, healthtech, SaaS, and biotech, MudhalVC is not just backing ideas; it’s curating a diverse ecosystem of innovation that aligns with future trends. 15 startups from its accelerator have successfully secured investments, showcasing the fund’s effectiveness in identifying and nurturing potential.
The new venture firm plans to deploy approximately Rs 125 crores over the next three to four years, segmented into two phases. This strategic investment will support startups at critical growth stages, ensuring they have the necessary backing to scale effectively.
Sambandam who is well known for his venture Kissflow and SaaSBoomi emphasizes the importance of a supportive network, stating, “With MudhalVC, we’re not only providing the capital needed to get started but also the mentorship and networks necessary to succeed globally.”
Through his new venture capital firm , Sambandam is not merely investing in startups; he is sculpting a vibrant entrepreneurial culture in Tamil Nadu. His mission is clear: to make Tamil Nadu’s trillion-dollar dream a tangible reality by unleashing the potential of local innovators. By connecting founders with the resources they need, the venture capital firm is setting the stage for a new wave of entrepreneurship that could redefine the state’s economic future.
