Blinc Invest

VC firm Blinc to invest Rs 100 Cr in six startups

Blinc Invest

Blinc Invest, a venture capital firm expects to raise Sebi-approved funding of Rs 100 crore. The fund will be invested in six startups over the course of the next two to three years. According to the founder and managing director, Amit Ratanpal, the company has already approached Sebi for the fund approval and has raised a funding of Rs 30 crore.

According to Mr. Ratanpal,

“We have closed raising of Rs 30 crore and expect to operationalize the entire Rs 100 crore in next six to seven months. We will focus on investing in financial and education technology companies.”

The Funding

The announcement marks the second corpus by Blinc Invest. A total of six startups will benefit from the funding and investment.

According to Mr.Ratanpal, under the Blinc portfolio 1, they had received a satisfactory return on investment that was more than five times the actual investment made from the balance sheet. He also mentioned that they are about to make an exit from the fourth venture which is also their last with an expected 7-8 times return. The investment was made under Blinc 1.

He added that under Blinc 2, the portfolio focus will be directed particularly towards fintech and edtech companies.

Blinc is all set to make an investment worth Rs 100 crore in startups whose revenue touches the Rs 1-2 crore line and whose product is operational. To this end, the firm has already received commitments for over Rs 30 crore from various investors, which is quite promising.

The Managing Director also mentioned that they are paying close attention to the developments and progress in the space of digital and neo banks.

In 2018, Eduvanz Financing Pvt.Ltd, based in Mumbai had raised a total amount of $500,000 in an angel round funding. The funding was led by the venture capital firm BLinC Management Advisors PvT. Ltd. Eduvanz Financing Pvt. Ltd is focused on providing loans for skill development and growth. Artificial Intelligence-based algorithms and predictive analytics is used by Eduvanz for the collation of financial and socio-economic data which will make lending easier and more convenient. The company plans to use the funds towards strengthening its loan appraisal technology and expanding its operations across India.