Riverwalk Holdings, an early-stage India-focused venture capital fund, launched its Rs 150 crore fund on Thursday, anchored by the Singapore-based Thakral Group and backed by Indian and Singapore-based business houses.
According to a company statement, Riverwalk has a sector-agnostic investment strategy, with preferred sectors including enterprise SaaS, fintech, and consumer-tech and consumer brands. The New Delhi-based fund intends to deploy the fund within 18 months and will invest up to Rs 10 crore per startup.
Riverwalk has previously invested in four startups: SpotDraft, an AI-based contract automation company; The Ayurveda Experience, a one-stop Ayurveda platform; Mylo, a community and commerce platform for parents; and Homeville, a housing finance platform.
“The founding principles of Riverwalk have been shaped by the Thakral Group’s 117-year legacy of building successful businesses based on long-term partnerships. The lifecycle of a startup has its ups and downs, and we are committed to being supportive throughout the journey. We are grateful to have like-minded investors who also share our investment philosophy,” said Satveer Singh Thakral, Founding Partner, Riverwalk.
Riverwalk Holdings announces India Focused Fund to foster startups
Riverwalk is led by managers with over 10 years of investing experience across 100+ startups in India, Southeast Asia, and the US. Its past investments include the IPO bound branded pharmacy chain Wellness Forever; AI-based AML platform Silent Eight; ecommerce SaaS platform Anchanto; and consumer intelligence platform Mobilewalla.
The fund has had notable exits from Karza Technologies (acquired by Perfios for Rs 600 crore), Dropsuite, LogiNext, Wigzo (acquired by Shiprocket), nCinga, and LBB.
Additionally to its founder-first mandate, “Riverwalk will leverage its stakeholder network to accelerate the growth of startups by providing access to leading enterprises across Asia,” added Satveer.
Jai Sumer Singh, Founding Partner, Riverwalk, said, “We are looking to partner with founders who are focused on building fundamentally strong and capital-efficient businesses. This philosophy has worked out well for us in the past, and we are just focused on replicating it.”