Singapore-based angel investment network ThinKuvate announced the launch of their first India-focused fund, ThinKuvate India Fund-I, with a total corpus of Rs 100 crore.
The India Fund will look to invest in tech start-ups across sectors with an initial amount of up to Rs 3 crore. ThinKuvate aims to invest in 12–15 start-ups every year through this fund. The fund launch will also be announced through investor roadshows across cities in a phased manner. In the first phase, the ThinKuvate team will be rolling out the fund in key cities like Nagpur, Raipur, Bangalore, and Chennai, with an aim to tap into emerging startup hubs in India along with established centers.
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Ritesh Toshniwal, Founding Partner, ThinKuvate, said, “From our existing portfolio, we have already invested in Indian start-ups, and the performance of these companies coupled with the macros of the Indian economy played a crucial role in ThinKuvate launching an exclusive India fund.”
ThinKuvate has received Sebi approval to launch this AIF CAT 1 Fund in India. With an investor base of nearly 200, the fund expects to reach its first close within this quarter. The fund was founded by Nagpur University alumni Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena. The fund has also expanded its core team, with Mayank Jain joining ThinKuvate as CEO of the fund.
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The fund expects to start deploying capital in the next quarter. Addison Appu, Partner, ThinKuvate, said, “The surge in digital adoption and conducive policy environment have led to the emergence of products and technologies from India with a "glocal" approach, blending global perspectives with local relevance. Drawing from our experience in mentoring and advising startups, we recognise the potential to extend the India playbook to Southeast Asia.”
