Finvolve closes ₹100Cr debut fund to invest in scalable startups

May 24, 2024: Finvolve, a B2B netfork for startup investments declared that it has closed its maiden funds at a total corpus of Rs 100 crore, with firm commitments from prestigious families and marquee investors.

Finvolve enables wealth managers to explore the naunces of investing in the startup ecosystem.

The two funds are Category I Alternative Investment Funds (AIFs) registered with the Securities and Exchange Board of India (SEBI), each having a corpus of Rs 50 crore. The funds are focused on early-growth stage companies to help them scale and expand.

Finvolve is a joint venture launched by India Accelerator and Finolutions, a GIFT City-based B2B firm. The firm also unveiled new funds, with an investment corpus of around Rs 500 crore.

Finvolve to raise investments in accelerator, seed and scale stages startups

The funds are targeted at widening its investment spectrum encompassing accelerator, seed, and scale stages. The accelerator fund aims to invest $150,000 per startup, with $500,000 to $1 million designated for the seed fund and $1 to $3 million allocated to the scale fund.

“It is a significant shift for us to evolve into a multi-stage fund. The initiative will provide comprehensive support to startups from ideation to IPO, ensuring they have the resources and expertise needed to succeed in a competitive global market,” Apoorva Vora, Co-founder of Finvolve said.

Finvolve has invested in enterprises such as Matter, Inc 42, Stage, Advance Mobility, and Zulu Defence.

The firm has established ambitious theses for fragmented industries with long-term growth potential, such as unmanned vehicles, space, energy, mobility, and impact, Ashish Bhatia, Co-founder of Finvolve, said, adding that with this fund close and new offerings, it aims to drive further technology innovation in these sectors.

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