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.”
Fund managers say that entrepreneurs previously didn’t have many options in terms of venture exposure but now things are reforming and realization is sprouting that industry professionals and entrepreneurs add significant value to early-stage focused funds.
Binny Bansal who resigned from Flipkart after personal misconduct has taken a high interest in investing in VC firms such as Stellaris, India Quotient, Blume Ventures, 021 Capital and PI Ventures. Other high profile investors including Deep Kalra, Make My Trip CEO, Naukri.com’s Sanjeev Bikhchandani and Taxi for sure co-founder Aprameya Radhakrishna. Other funds that are backed by entrepreneurs include Kae Capital, Blume Ventures, and Stellaris Venture Partners, pi Ventures and Chiratae Ventures.
Stay connected with us for latest updates!
- Kerala Government Commended for Nurturing a Flourishing Startup Ecosystem - September 21, 2023
- MIXI from Japan Launches $50 Million CVC Fund to Back Digital Entertainment Startups in India - September 21, 2023
- Government’s Initiative: BRICS Startup Forum to Foster Entrepreneurial Collaborations: Goyal - September 21, 2023