April 10, 2024: Synapses has unveiled $125 million VC fund on Tuesday at IIT Delhi’s Research and Innovation Park. The Venture capital (VC) fund will back startups that develops STEM solutions with global value propositions, promoting global collaboration, and technology transfers.
Revealing the details after launching the fund at IIT Delhi’s Research and Development Innovation Park Synapses stated it engages with portfolio companies to accelerate their global growth and impact, using deep technology and collaboration to build global market leaders and deliver 5-7X returns at the fund level.
Additionally the fund plans to conclude its initial investment round in September or October by investing in five to six startups in seed to Series B rounds.
Synapses New Fund to focus on Climatetech and Healthtech Sectors
The Venture Fund which focuses on STEM-based solutions for climatetech and healthtech sectors is founded by IIT alumni and veteran investors, Ruchira Shukla and Karthik Chandrasekar.
“The climatetech and HealthTech solutions needed today sit at the intersection of STEM-innovation and agile as well as resilient, future-ready, infrastructure-like solutions that need to be deployed at utility scale. Commercialising innovations at this intersection is hard and requires deep sector immersion. We are taking on this challenge because solving for this complexity is what drives alpha and impact,” said Karthik Chandrasekar, Co-founder and Managing Partner of Synapses.
Synapses also backs the UN Sustainable Development Goals (SDGs) and fosters International Finance Corporation’s (IFC) E&S, governance, diversity, inclusion, and fiscal discipline principles in its portfolio.
“Climate change and an increasing disease burden are the defining challenges of our generation. Synapses is built on the belief that science and technology hold the key to solving these challenges at scale not just for India but for the world. We are nurturing a new generation of audacious, path-breaking innovators and helping them build leading global technology businesses to deliver outsized financial returns,” Ruchira Shukla, Co-founder and Managing Partner of Synapses, said.
In addition to its venture fund, Synapses opeartes an incubator in partnership with NITI Aayog and a multi-year seed investment programme.
