YEA And Magnifiq Capital Join Hands With Thyrocare Founder To launch Rs 500 Million Fund For Indian Start-Ups
The Young Entrepreneurs Association (YEA) and Magnifiq Capital Trust (SEBI-registered venture capital fund) have partnered with Dr. A. Velumani (creator of Thyrocare) to invest up to ₹500 million in Indian start-ups, handpicked by the latter.
The announcement was made at YEA's annual general meeting held on April 27th in Hyderabad. This reflects the organisation's ongoing effort to drive advancements in the start-up ecosystem, as per a company statement.
Velumani will also provide mentorship to the start-ups. Speaking to Mint, he said, “We need a combination of money, wisdom, and expertise to get returns. So, if I invest, I also want to mentor them, as it is the safest way to reduce failures and enhance returns."
Subhakar Alapati, President of the Young Entrepreneurs Association, said, “This new fund marks a milestone in our journey to foster innovation and entrepreneurial spirit. Over the past decade, YEA has been pivotal in supporting start-ups through investments and mentorship, and with this initiative, we aim to further amplify our impact on India’s start-up landscape.”
Seed-stage companies innovating in these fields are encouraged to apply. The application process involves a detailed proposal submission via email, where the applicants will undergo a thorough review, ensuring a fair and insightful selection process for prospective recipients.
YEA's history includes impactful investments in unlisted IPO shares in start-ups like Bira and Boat, and the association continues to provide one-on-one mentorship from YEA's members, many of whom are first- and second-generation entrepreneurs, as per a company statement. These mentors come from a plethora of industries, ensuring start-ups receive a wealth of knowledge and tailored advice.
Founded in 2012, the Young Entrepreneurs Association (YEA) is an organization based in Hyderabad, uniting a dynamic community of innovators and business leaders. YEA’s mission is to foster an environment of growth, mentorship, and collaboration, facilitating access to resources, knowledge, and networks.
