India-focused venture capital fund Sphiticap has launched its maiden fund with an investable corpus of USD 500 million.
The early-stage fund will support enterprises that align with sustainability, growth and impact, Sphiticap said in a statement. The fund will identify companies in the cleantech, fintech, deep tech, agritech, proptech, SaaS, digital media, consumer tech, logistics and supply chain, managing partner Pallav Kumar Singh said.
Another managing partner Mayank Mehra said there is a growing need for funds that can enable entrepreneurs from beyond the metros. “Currently, our portfolio pipeline has funding up to USD 15 million with no upper limit. There are a lot of promising startups that we are vetting and excited about working with such companies,” it said. Founded earlier this year, Sphiticap is primarily investing in 10 sectors.
Pingback: Edelweiss arm aims to raise USD 1 bn in third distressed asset fund