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What our members have to say...
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"DONE DEAL - EYE MUFFS combine safety goggles and ear cushions, providing excellent protection against eye injuries and high frequency noise. This innovative and revolutionary new product aims to cut the thousands of eye and ear injuries each year.
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Jorge Pereira - Eyemuffs.com |
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IncuCapital set to boost angel funding scene in India
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IncuCapital Advisors, the Bangalore-based early-stage venture capital company, is set to give a boost to the angel funding scene in India. While early stage entrepreneurs tap the family and friends circle before going to angels and then to venture capital funds, IncuCapital, with its first fund of Rs 100 crore is set to give a formal format to the angel funding by stating they are open to investing as little as Rs 50 lakh for early-stage companies in incubation and will go upto Rs 8 crore.
IncuCapital Fund 1 from IncuCapital Advisors, has been launched a close-ended fund that would invest in early stage companies whose productôservices are customer validated and revenue horizons are quite visible in the near term.
According to Kapil Khandelwal, member, IncuCapital Fund Advisory Committee and Director, Makven Capital, “The fund is positioned to assist early-stage companies in incubation. A large number of companies are incubated every year. However, post downturn there has been a yawning gap between the early stage investments as the VCs have become a bit risk averse and moved towards late stage investments.”
The fund has a close-ended five-year term and is extendable by one plus one year thereon. The fund will be a SEBI compliant fund with a trust structure. IL&FS had been appointed trustees for the fund. The investment committee comprises of five members including two nominees from the investment manager and one nominee from the anchor investors and two independent nominees.
According to Khandelwal, the investment managers of the fund have established a startup sourcing and engagement infrastructure in the form of city chapter across India’s major startup active cities. “These chapters are volunteer-driven and are effective in reaching out to startups directly. Other than city chapters, IncuCapital has an incubation arm where it incubates very early stage companies/ideas and some of them that which does well can be looked upon for investments. IncuCapital has also established partnership with India’s top two angel networks as well early stage funds which can be the source of mutual deal flows and in some cases co-investment,” he added.
Talking of the incubation scenario Khandelwal said that Bangalore is ripe for an incubation fund.
“Over the last few years, we have witnessed an increasing number of savvy, senior management personnel leaving established multinationals and Indian companies to start new ventures. It is these professionals whom we will be targetting for our fund,” he noted.
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