Tangling Venture Partners attracts Indian startup top performers
Flipkart’s co-founder Binny Bansal, Kalyan Krishnamurthy, Dan Neary, and Surjeet Kumar are investing in Tangline Venture Limited.
Tangline planning to get funds up to$50 Million.
Tangline planning to invest across 10-12 startups with an average of $3 Million.
- Tangline planning to invest across 10-12 startups with an average of $3 Million.
Tangline Venture Limited a venture capital fund floated by Ravi Venkatesh and Edwina Yeo former Tiger Global Executives has backed up by internet entrepreneurs and executives as its key investors. Flipkart’s co-founder Binny Bansal and CEO Kalyan Krishnamurthy, Facebook Asia Pacific head Dan Neary and Udaan co-founder Surjeet Kumar are among the key investors. Tangling VC which initiated operations late previous year will focus on backing early-stage startups in India and Southeast Asia. It will invest across 10-12 startups with an average of $3 Million. Tangline backed by domestic entrepreneurs is planning to get funds up to $50 Million. It has already gained an appropriate amount till now from 15 LPs including institutions and individual.
According to a statement by Venkatesh to ET, “India and South Asia have similar macro outlook and are growing rapidly with its population focusing more on digital lifestyle. We believe that there are ample of opportunities for technology to develop value by organizing fragmented and unorganized sectors, making distribution more effective by reaching directly to customers.”
Recently the trend of industry leaders and entrepreneurs investing in VC firms is gaining ground in India. It’s a positive testimony for startups because backing a fund is riskiest asset classes.
Entrepreneurs revealed that investing in funds provide them with exposure to emerging businesses and assists in saving time from analysis businesses. “If you trust in the macro thesis, 5% financial portfolio openness to funds makes sense,” said an entrepreneur who is an investor in two early-stage venture funds.”
