Investment Tech Platform Soonicorn Ventures (SV), has got regulatory green signal from the Securities and Exchange Board of India (SEBI) to roll out an angel fund with a target size of Rs 250 crore and a green shoe option of the same amount.
Soonicorn is an invite-only community of Early-stage VC Funds, Private Equity Funds, Family Offices, Angel Funds, Angel Networks, Accelerators, HNIs, and Startups. Members can access pre-screened startup deals through SV, with the opportunity to co-invest with other members.
The investments by the fund range between Rs 50 lakh and Rs 4 crore in startups in the seed to Series A funding stages.
Gurugram based Soonicorn Ventures, founded in 2022 by Vijay Singh Rathore and Pravesh Goel, has a community of over 2,000 members, encompassing high-net-worth individuals, venture capital funds, family offices, and angel networks, who get the opportunity to put their money into startups.
Soonicorn to provide more flexibility for startups
Vijay Singh Rathore, Co-founder and CEO, Soonicorn Ventures, said “With the introduction of this Angel Fund, we aim to provide more flexibility to investors and facilitate single cap-table entries for startups.”
“The trust placed in us by both investors and founders has inspired us to invest more time and energy in developing a robust regulatory framework,” Pravesh Kumar Goel, Co-founder of Soonicorn Ventures, said.
According to Rathore, SV adopts a sector-agnostic approach and will allocate investments ranging between Rs 50 lakh and Rs 4 crore in startups in the seed to Series A funding stages.
The platform invests in drone technology, B2B SaaS, electric vehicles (EV), fintech, and supply chain logistics, among other sectors. Soonicorn Ventures portfolio startups include the likes of Zypp, Zingbus, Samosa Party, SupplyNote, AutoNxt, Skylark, Cusmat, and Savart.