48-hour turnaround on seed fund requests, industry first Initiative by Chiratae Ventures
Chiratae Ventures, a venture capital advisory firm, will offer a 48-hour turnaround on seed fund requests and pitches for investments of less than or equal to $500,000, an industry-first initiative for the Indian startup ecosystem.
According to a senior company executive, Chiratae Sonic aims to accelerate and democratise the fundraising process for founders in order to provide them with faster access to capital.
“One of the biggest challenges an early-stage entrepreneur faces is the tedious and time-consuming process behind raising capital,” says, Sudhir Sethi, founder, and chairman, Chiratae Ventures.
In the last three to four years, there has been a paradigm shift in early-stage investing, with an increasing number of venture capital investors looking to generate a healthy deal flow and back winner ideas from the seed stage. As capital becomes more commoditized, the only differentiator among funds is the network and expertise they provide.
Chiratae Ventures, formerly IDG Ventures India, is an Indian technology venture capital firm focused on growth-stage startups. Sudhir Sethi and T. founded the venture firm. In 2006, C. M. Sundaram was appointed as the Indian arm of the global venture capital firm IDG Ventures. The firm manages over $775 million in total assets across 85 investee companies. The firm is based in bangalore, with offices in Mumbai and New Delhi.
Chiratae Ventures’ advisory board includes: Ratan Tata, chairman emeritus of Tata Sons, Kris (S) Gopalakrishnan, co-founder of Infosys, Bruno E. Raschle, founder and MD of Schroder, Manish Choksi, non-executive vice-chairman of Asian Paints, Andreas Hettich, chair, Hettich Group Advisory Board andFerzaan Engineer, co-founder and chairman of Cytecare Hospitals.
Several funds have launched incubator programmes, inviting idea-stage startups to pitch and providing capital to the winners. A growing number of funds have sprung up to support companies even at the concept stage.
“We as a team go through at least 3,000 deals each year. After having backed 60 active startups, there is a fair idea of what will work and what won’t,” Sethi said. As the deals get bigger in later stages, the fund spends enough time on due diligence, he said. Diligence for all investments under the Sonic initiative will be completed rapidly and remotely with trusted partners, he said.
Chiratae Ventures was founded in 2006 and has $900 million under management and 100 investee companies in consumer media and technology, cloud/software, healthtech, and fintech. Bounce, Cure.fit, FirstCry, Flipkart, Forus, Lenskart, Manthan, Myntra (acquired by Flipkart), NestAway, Newgen, PlaySimple, PolicyBazaar, Rentomojo, and Unbxd, and Uniphore. are some of Chiratae's portfolio companies.
According to a senior company executive, Chiratae Sonic aims to accelerate and democratise the fundraising process for founders in order to provide them with faster access to capital.
“One of the biggest challenges an early-stage entrepreneur faces is the tedious and time-consuming process behind raising capital,” says, Sudhir Sethi, founder, and chairman, Chiratae Ventures.
In the last three to four years, there has been a paradigm shift in early-stage investing, with an increasing number of venture capital investors looking to generate a healthy deal flow and back winner ideas from the seed stage. As capital becomes more commoditized, the only differentiator among funds is the network and expertise they provide.
Chiratae Ventures, formerly IDG Ventures India, is an Indian technology venture capital firm focused on growth-stage startups. Sudhir Sethi and T. founded the venture firm. In 2006, C. M. Sundaram was appointed as the Indian arm of the global venture capital firm IDG Ventures. The firm manages over $775 million in total assets across 85 investee companies. The firm is based in bangalore, with offices in Mumbai and New Delhi.
Chiratae Ventures’ advisory board includes: Ratan Tata, chairman emeritus of Tata Sons, Kris (S) Gopalakrishnan, co-founder of Infosys, Bruno E. Raschle, founder and MD of Schroder, Manish Choksi, non-executive vice-chairman of Asian Paints, Andreas Hettich, chair, Hettich Group Advisory Board andFerzaan Engineer, co-founder and chairman of Cytecare Hospitals.
Several funds have launched incubator programmes, inviting idea-stage startups to pitch and providing capital to the winners. A growing number of funds have sprung up to support companies even at the concept stage.
“We as a team go through at least 3,000 deals each year. After having backed 60 active startups, there is a fair idea of what will work and what won’t,” Sethi said. As the deals get bigger in later stages, the fund spends enough time on due diligence, he said. Diligence for all investments under the Sonic initiative will be completed rapidly and remotely with trusted partners, he said.
Chiratae Ventures was founded in 2006 and has $900 million under management and 100 investee companies in consumer media and technology, cloud/software, healthtech, and fintech. Bounce, Cure.fit, FirstCry, Flipkart, Forus, Lenskart, Manthan, Myntra (acquired by Flipkart), NestAway, Newgen, PlaySimple, PolicyBazaar, Rentomojo, and Unbxd, and Uniphore. are some of Chiratae's portfolio companies.
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