April 18, 2024: BizDateUp Technologies, has unveiled a Category I Alternative Investment Fund (AIF) worth Rs 200 crore to foster innovation and entrepreneurship, with a thrust on emerging enterprises that are engaged in the areas of sustainability and social impact incorporating technology.
The investment platform fund will assist startups in India’s Tier II and III cities with essential capital, mentorship, and industry connections, it said in a statement.
“Our mission at BizDateUp has always been to catalyse innovation and drive socioeconomic growth through strategic investments and support for budding entrepreneurs,” said Jeet Chandan, Co-founder of BizDateUp Technologies, in a statement.
BizDateUp Platform enables small investors to invest in promising startups; focus on Tier 2, 3 cities
The platform makes it easy for investors to invest in a variety of promising startups, with the potential for high returns on small investments, starting from Rs. 1 lakh.
“With the launch of our Rs 200 crore Category I AIF Fund, we are reaffirming our dedication to empowering startups in Tier II and Tier III cities, unlocking their potential to become the next engines of growth and innovation in India,” Chandan added.
In FY23-24, BizDateUp funded over 25 startups in these regions, collaborating with more than 1,000 active angel investors and achieving an average return of 3.5X.
Few of the key startups supported by BizDateUp include Passenger Drone Research Pvt. Ltd. in Nashik, ZEVO in New Delhi, and Immersive Labz in Pune, among others, spanning SaaS, electric vehicle, logistics, agritech, and gaming.
