A new USD 75 million fund has been launched by NuVentures, a venture capital firm that was established in 2015 by investor Venk Krishnan. The US-based company wants to invest in startups that have close ties to India.
Since his investment in NetKraft in 2002, Krishnan has been actively involved in the startup scene in India. Mu Sigma, BigBasket, Acko, HomeLane, Third Wave Coffee, Geist Beer, Lucidity, and Foxtale are just a few of the more than 47 businesses he has invested in over the years.
In the past, Krishnan mostly worked as an angel investor, choosing businesses based on the founders' enthusiasm. NuVentures has now developed into a structured investment company that offers startups more than just funding.
With investments ranging from USD 250,000 to USD 750,000, the fund intends to invest in four to five startups each year. In the US, it has already obtained pledges from a Fund of Funds and high-net-worth individuals (HNIs).
Four startups have already received funding from NuVentures, one of which was started by a graduate of Carnegie Mellon University. Krishnan aims to empower and assist the expansion of promising entrepreneurs' businesses through this fund.
