ah! Ventures, which an investment platform start-up company recently came out to announce that the company has set up its first ever angel fund with an initial fund amounting to Rs. 100 crores with an option to increase it by another Rs. 50 crores.
This new start-up company that is not willing to be tied up to a single industry and wants to inject funds in to various companies, with an eclectic background that play in various fields in the country.
The company announced that they will be injecting funds worth around Rs. 5 crores each in to at least 30 different start-up companies that are just in their early stages. Even though they do not want to be tied up by a single sector, they have high lighted a few important industries which include healthcare, software as a service, financial tech, education and so on.
The company went on to say that they will complete their first ever funding within the next two months and will be completely invested within the next 36 months.
A spokes person of the company said that although the power of Indian start-ups have been brought to light over the past few years, but there is still so much of untapped potential in the country that needs the funds to help them grow and get their business out there. Many start-up companies with great potential still need financial support especially in their early stages and that is exactly what ah! Ventures is planning to target. We are aiming to help companies bring their idea to fruition and help them take the big jump in to a full fledged business.
Ever since the company was founded, it has injected funds amounting to Rs. 250 crores in almost 30 different Indian companies and have even supported many of them in later stages of their investments. They have invested in many companies which have become staple in their industries such as Inc42, Bolo Live, and Testbook and Expertrons.
The company was founded over a decade back in 2010 and it was founded by an engineering student based in the city of Pune. The company’s head office is however situated in Mumbai.
It is great to see venture capital firms being backed and receiving crucial funds which can in turn be used to invest in to various other companies. In a time that many companies in the country is struggling to receive funds, it looks like that situation is slowly recovering.