Revenue based Growth Capital Firm N+1 Capital invests $2 million in 3 Startups
N+1 Capital, a revenue-based growth capital firm, announced its first close on Tuesday, as well as the start of its first investments in startups such as ShypLite, Clensta Technologies, and Teamonk Global Foods.
The fund is sector and stage agnostic, investing in revenue-generating companies with ticket sizes ranging from $1 million to $2 million (Rs 15 crore).
“We are thankful and delighted to have global family offices and HNIs come on board with us and support us as first time fund managers. They have made our vision, of supporting over 100+ entrepreneurs grow and scale their businesses profitably, a reality and enabled us to bring this growing global asset class to India for the first time. As we move forward towards the second and final close we will be working to bring on board more institutional investors,” says, Rahul Chowdhury, Managing Partner, N+1 Capital.
“We picked N+1 for two reasons, the people and our desire to diversify. This is a team built from invaluable experience, great leadership, and a unified vision. A team we knew we could trust. They are hyper-focused to build out this asset class in India,” added one of the US-based family office investors.
Earlier this year, the Securities and Exchange Board of India (SEBI) approved the fund's launch as a Cat-II AIF with a target corpus of $100 million ($75 million + $25 million greenshoe), with LetsVenture as its Venture Partner.
“We are pleased to announce our first set of investments in Shyplite (a logistics automation and fulfilment platform enabling businesses to increase shipping efficiency by providing a single-window platform integrated with multiple carriers), Clensta Technologies (an FMCG company that creates innovative waterless healthcare solutions to make hygiene accessible for anyone, anytime and anywhere), and Teamonk Global Foods (a global speciality tea business). We will make four to eight investments per quarter, and we already have a robust pipeline for Q2 FY2022,” added, N+1 Capital Managing Partner Ashish Singla.
N+1 Capital, founded by Rahul Chowdhury and Ashish Singla, both Kellogg School of Management graduates, has launched a non-equity asset class in which the fund receives a percentage of the investee company's ongoing revenues each month. If an investee company generates more revenue in a given month, the fund receives a larger share, and vice versa. Therefore the interests of the Fund and investee company are aligned to one another.
Singapore-based family office investor, (lead investor for N+1 Capital), said, “As entrepreneurs in India mature and the ecosystem matures our Family office has looked for newer asset classes that provide us with security of returns and a differentiated cost structure. We are delighted to partner with N+1 Capital and believe that they will make a massive impact on entrepreneurship in India via revenue based debt finance.”
Ranjit Pandit (former India MD of McKinsey and Co), Dr. Madhu Mohan (ex-Chairman Invascent, healthcare PE fund), and entrepreneur and turnaround specialist Jason Kothari serve on the fund's advisory board.
The fund is sector and stage agnostic, investing in revenue-generating companies with ticket sizes ranging from $1 million to $2 million (Rs 15 crore).
“We are thankful and delighted to have global family offices and HNIs come on board with us and support us as first time fund managers. They have made our vision, of supporting over 100+ entrepreneurs grow and scale their businesses profitably, a reality and enabled us to bring this growing global asset class to India for the first time. As we move forward towards the second and final close we will be working to bring on board more institutional investors,” says, Rahul Chowdhury, Managing Partner, N+1 Capital.
“We picked N+1 for two reasons, the people and our desire to diversify. This is a team built from invaluable experience, great leadership, and a unified vision. A team we knew we could trust. They are hyper-focused to build out this asset class in India,” added one of the US-based family office investors.
Earlier this year, the Securities and Exchange Board of India (SEBI) approved the fund's launch as a Cat-II AIF with a target corpus of $100 million ($75 million + $25 million greenshoe), with LetsVenture as its Venture Partner.
“We are pleased to announce our first set of investments in Shyplite (a logistics automation and fulfilment platform enabling businesses to increase shipping efficiency by providing a single-window platform integrated with multiple carriers), Clensta Technologies (an FMCG company that creates innovative waterless healthcare solutions to make hygiene accessible for anyone, anytime and anywhere), and Teamonk Global Foods (a global speciality tea business). We will make four to eight investments per quarter, and we already have a robust pipeline for Q2 FY2022,” added, N+1 Capital Managing Partner Ashish Singla.
N+1 Capital, founded by Rahul Chowdhury and Ashish Singla, both Kellogg School of Management graduates, has launched a non-equity asset class in which the fund receives a percentage of the investee company's ongoing revenues each month. If an investee company generates more revenue in a given month, the fund receives a larger share, and vice versa. Therefore the interests of the Fund and investee company are aligned to one another.
Singapore-based family office investor, (lead investor for N+1 Capital), said, “As entrepreneurs in India mature and the ecosystem matures our Family office has looked for newer asset classes that provide us with security of returns and a differentiated cost structure. We are delighted to partner with N+1 Capital and believe that they will make a massive impact on entrepreneurship in India via revenue based debt finance.”
Ranjit Pandit (former India MD of McKinsey and Co), Dr. Madhu Mohan (ex-Chairman Invascent, healthcare PE fund), and entrepreneur and turnaround specialist Jason Kothari serve on the fund's advisory board.
.jpg "Radiance Renewables: Driving Sustainable Inno-vation in India's Renewable Energy Landscape")
