Investments, Startups

Astarc Venture Launches $10M Seed Fund for Indian Startups

Image Source: 10xfinancial

Image Source: 10xfinancial

Astarc Ventures, the strategic investment arm of a Mumbai-based automotive solutions group, has launched a seed fund with a corpus of $2 million, that will be increased up to $10 million over the next few years, depending on the requirements on portfolio companies.

It plans to invest in in tech focused, tech enabled companies in emerging industries such as mobile payments, digital healthcare, digital communication, 3D printing, data analytics, etc. Currently, the firm is in talks with 3-4 companies which targets customers in the retail and healthcare industries.

​​With a net worth of over $400 million (Rs 2500 crore) Astarc Group is venturing into diversified sectors such as Private Equity, Mining, Agro, Real Estate, Power, Ports, IT enabled services in India, East Africa, USA, and Indonesia. The fund will be used to invest in about 12-15 startups across the next few years, each getting a funding of around $150,000 (early stage) to $1 million (for later stages).

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