ThinKuvate, an angel investment firm based in Singapore, has announced the first close of its India-focused fund at Rs 25 crore. This fund is part of a larger Rs 100 crore target, and it reached this milestone just four months after its official launch. According to ThinKuvate, the fund has already made investments in four high-growth startups.
Focus on Early-Stage Startups
ThinKuvate aims to invest in early-stage startups, specifically from Seed to Series A rounds. The firm takes a sector-agnostic approach, meaning it does not limit itself to specific industries. Instead, it looks for founders who possess complementary skills, a clear path to profitability, and scalable business models. ThinKuvate plans to co-invest with leading venture capital firms and family offices to provide strong support to its portfolio companies as they grow.
Managing Partner Ghanshyam Ahuja expressed confidence in the potential of Indian startups, stating, “We have been investing in Indian startups and saw the potential growth opportunities. This validates our thesis on the next-gen innovations taking place in India, which have a global appeal.”
Investment Strategy
The fund aims to invest in 30 to 40 startups, with each investment ranging from Rs 1.5 crore to Rs 4 crore. ThinKuvate has recruited top-tier General Partners from around the world to manage deal flow, due diligence, and portfolio oversight. Notably, over 50% of the fund’s investors are non-resident Indians (NRIs) from countries like Singapore, Australia, the United States, the United Kingdom, and Indonesia.
CEO Mayank Jain emphasized the firm’s capabilities, saying, “We have built capabilities within our team to support startups in scaling faster. The profile of our Limited Partners, who are senior professionals in large companies, will be a huge advantage for the startups we invest in.”
Investments Made
ThinKuvate has already invested in four promising startups: Rosh.ai, Zippee, Pantherun, and NymbleUp.
- Pantherun, founded in 2019, specializes in cybersecurity and is raising funds to expand its sales team and research and development.
- NymbleUp, also founded in 2019, offers AI-driven solutions for workforce management in retail and QSRs and has secured pre-Series A funding.
- Rosh.ai, founded in 2021, focuses on autonomous vehicle technology and aims to grow in industries like automotive and mining.
- Zippee, founded in 2021, provides same-day delivery for over 100 D2C brands and is expanding its operations in metro cities.
- ThinKuvate is confident that its fund will create a strong portfolio and deliver excellent returns for its investors.
