Startup Buddy parent firm announces Real Time Accelerator Fund with Rs 100 crore corpus
Gurugram-based Startup Buddy's parent company Real Time Management Consultancy Services on Thursday said that it has launched 'Real-Time Accelerator Fund' with a target corpus of Rs 100 crore. There is also a green shoe option of another Rs 100 crore, according to a statement.
Startup Buddy was incorporated in 2015 with the aim to provide a 'one-stop' solution for startups in the field of finance, legal and compliance services.
The company has served over 500 startups as clients and consulted more than 2,000 entrepreneurs in the last seven years.
According to the statement, Startup Buddy's parent firm Real Time Management Consultancy Services has announced the launch of its first fund 'Real-Time Accelerator Fund' with a corpus of Rs 100 crore with a green shoe option of another Rs 100 crore.
"The fund is the next step to support the startup founders through funding and mentorship. Manish Aggarwal will lead the fund as Managing Director and Pranay Mathur will be the CEO," the statement said.
The fund would invest in 20 startups in a year with an average cheque size of Rs 1 crore. The fund will handhold the startup in its 10 weeks accelerator program. The focus sectors will be fintech, Web 3.0, D2C, B2B SaaS (Software as a Service), creators economy, EV and other emerging sectors.
Real Time plans to start investing by July 2022 as it is in the last stage of its SEBI registration, and is awaiting confirmation from markets regulator Securities and Exchange Board of India (Sebi), it added.
"A startup needs more than funding and our program is designed to accelerate their 0 to 1 journey and also, with angel fund structure, a single entity will be on the cap table that brings ease to raise large round of institutional capital without managing and planning exits for various individuals," Manish Aggarwal, Managing Partner at Real Time Accelerator Fund said.
Real Time has invested in 25-plus early-stage startups at the seed stage, starting with Burger Singh (quick service restaurant) marked as the first investment and then followed by Advantage Club (rewards and recognition platform), PeeSafe (health and hygiene consumer brand), Junio (fintech), Chqbook (neobank) among others.
Startup Buddy was incorporated in 2015 with the aim to provide a 'one-stop' solution for startups in the field of finance, legal and compliance services.
The company has served over 500 startups as clients and consulted more than 2,000 entrepreneurs in the last seven years.
According to the statement, Startup Buddy's parent firm Real Time Management Consultancy Services has announced the launch of its first fund 'Real-Time Accelerator Fund' with a corpus of Rs 100 crore with a green shoe option of another Rs 100 crore.
"The fund is the next step to support the startup founders through funding and mentorship. Manish Aggarwal will lead the fund as Managing Director and Pranay Mathur will be the CEO," the statement said.
The fund would invest in 20 startups in a year with an average cheque size of Rs 1 crore. The fund will handhold the startup in its 10 weeks accelerator program. The focus sectors will be fintech, Web 3.0, D2C, B2B SaaS (Software as a Service), creators economy, EV and other emerging sectors.
Real Time plans to start investing by July 2022 as it is in the last stage of its SEBI registration, and is awaiting confirmation from markets regulator Securities and Exchange Board of India (Sebi), it added.
"A startup needs more than funding and our program is designed to accelerate their 0 to 1 journey and also, with angel fund structure, a single entity will be on the cap table that brings ease to raise large round of institutional capital without managing and planning exits for various individuals," Manish Aggarwal, Managing Partner at Real Time Accelerator Fund said.
Real Time has invested in 25-plus early-stage startups at the seed stage, starting with Burger Singh (quick service restaurant) marked as the first investment and then followed by Advantage Club (rewards and recognition platform), PeeSafe (health and hygiene consumer brand), Junio (fintech), Chqbook (neobank) among others.
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