Seems investments for early stage ventures are at boom in India, yet another early stage investment fund had entered in the list to help the early stage startups raise funds in the country.
Somak Ghosh, Co-chief executive of Mumbai-based private equity firm Motilal Oswal Private Equity, has moved on from the company to start a new investment fund i.e. Contrarian Capital India Partners for the early stage ventures.
Contrarian Capital India Partners is an early stage venture investing fund, working to invest in business models that deliver financial value by creating social value for both consumers and producers. The fund will be making investments in sectors like education, healthcare and agri-businesses. And as per the reports, the fund will be investing in Series A stage between $500,000 to $5 million in each company over multiple rounds.
Its debut fund, i.e. Contrarian Opportunities Fund I, is targeting a corpus of $50 million and will also be making early stage impact investments.
As per reports, Somak Ghosh was appointed in Motilal Oswal Private Equity, for the purpose of launching an impact investment fund called Sustainable Social Impact Fund. The fund was expected to be launched with a target investments of INR 250-300 crore ($46-55 million). But according to AVCJ (Asian Venture Capital Journal), the fund has apparently been shelved.
Somak had over 19 years of experience in structured finance, credit risk management, strategic planning and financial control. Prior joining Motilal Oswal Private Equity, Somak had worked with YES Bank, where he was co-founder and group president, he had also served as the director of Rabo India,
Lok Capital, Omidyar Network, Acumen and Aavishkaar, are the few other players working to invest in the above sectors.