VC firm 'SamVed' Unveils $50 million Fund for Early-stage Tech Startups in India
A $50 million fund has been established by US-incorporated venture capital firm SamVed to assist Indian tech startups in their early stages of development.
SamVed, which is headed by people with experience at well-known firms like LetsVenture, Bridgewater Associates, and Google, will mainly focus on early-stage startups and offer investments between $80K and $120K. It will also offer larger investments for pre-Series A rounds, ranging from $250K to $1 million.
A statement from SamVed states that 400 million middle class and 750 million aspirational people will emerge in India, where it is predicted that the economy will grow to the tune of $10 trillion in the next ten years.
This venture capital firm believes it would back startups that fill gaps in finance, healthcare, education, and lifestyle. Three startups have already received investments from SamVed, though their names are unknown.
Amit Srivastava, Managing Partner at SamVed, stated that "India's growth trajectory presents unparalleled opportunities for startups to drive meaningful change and create scalable businesses."
Former investor Srivastava worked at Bridgewater Associates. In order to facilitate deal flow and founder networking, SamVed has also partnered with LetsVenture, an angel investment platform.
Shanti Mohan, the Founder of LetsVenture and a member of SamVed, stated, "We are uniquely positioned to identify high-potential startups and efficiently accelerate their growth journeys."
The other fund executives are former Google employee Gagan Saksena and investors in Zomato and PolicyBazaar Vivek Khare.
"Our objective is to close the gap between aspiration and reality, empowering entrepreneurs to create meaningful businesses," stated Khare. SamVed will specifically examine industries including consumer brands, e-commerce, fintech, agritech, healthcare, and AI.
SamVed, which is headed by people with experience at well-known firms like LetsVenture, Bridgewater Associates, and Google, will mainly focus on early-stage startups and offer investments between $80K and $120K. It will also offer larger investments for pre-Series A rounds, ranging from $250K to $1 million.
A statement from SamVed states that 400 million middle class and 750 million aspirational people will emerge in India, where it is predicted that the economy will grow to the tune of $10 trillion in the next ten years.
This venture capital firm believes it would back startups that fill gaps in finance, healthcare, education, and lifestyle. Three startups have already received investments from SamVed, though their names are unknown.
Amit Srivastava, Managing Partner at SamVed, stated that "India's growth trajectory presents unparalleled opportunities for startups to drive meaningful change and create scalable businesses."
Former investor Srivastava worked at Bridgewater Associates. In order to facilitate deal flow and founder networking, SamVed has also partnered with LetsVenture, an angel investment platform.
Shanti Mohan, the Founder of LetsVenture and a member of SamVed, stated, "We are uniquely positioned to identify high-potential startups and efficiently accelerate their growth journeys."
The other fund executives are former Google employee Gagan Saksena and investors in Zomato and PolicyBazaar Vivek Khare.
"Our objective is to close the gap between aspiration and reality, empowering entrepreneurs to create meaningful businesses," stated Khare. SamVed will specifically examine industries including consumer brands, e-commerce, fintech, agritech, healthcare, and AI.
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