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ThinKuvate Launches Rs 100 Cr Fund to Support Indian Startups

May 21, 2024 1 min read

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Singapore-based investment firm ThinKuvate has launched its first India-focused fund, "ThinKuvate India Fund - I," with a target corpus of Rs 100 crore ($12 million) and a greenshoe option of Rs 50 crore. The fund aims to invest in 12 to 15 tech startups annually, with investment sizes up to Rs 3 crore per startup, spanning from seed to Series A funding rounds. The Securities and Exchange Board of India (SEBI) has approved the launch of this Category 1 alternative investment fund.

Founded by Nagpur University alumni Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena, ThinKuvate has been an active investor in India and Southeast Asia for the past seven years, having invested in over 22 companies. The firm plans to announce the fund through investor roadshows in cities such as Nagpur, Raipur, Bengaluru, and Chennai. The team has expanded with Mayank Jain joining as CEO of the fund. ThinKuvate's investment strategy is sector-agnostic, focusing on startups with patented products, revenue generation, and early traction.

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