#FundLaunch: WaterBridge to Invest $15M in Startups; SSV Closes Debut Fund & More

waterbridge#Fundlaunch is your quick summary of notable fund launches for Indian startups.

WaterBridge Ready to Invest $15M in Early Stage Startups

Private equity veteran Manish Kheterpal has floated a $15 million (about Rs 100 crore) early stage fund, WaterBridge Ventures. The SEBI registered fund is expected to focus primarily on pre-Series A and Series A funding.

The fund will primarily invest between Rs 75 lakh and Rs 3.5 crore in 12-15 ventures, and has a fund life cycle of 5-7 years. The fund is looking to bet on startups utilising technology at their core, and spread across sectors, including consumer focused mobile apps in media and telecom, ed-tech, health tech and fin-tech. Read More

Sixth Sense Ventures Closes Debut Fund at $18M

Sixth Sense Ventures founded in 2014 by Nikhil Vora, which has already backed five companies has closed its debut fund at Rs 125 crore ($18.34 million). Small Industries Development Bank of India (SIDBI), several domestic CEOs and high networth investors participated in the fund besides some limited partners (LPs). The consumer focused VC firm is planning to invest in 12 startups from this fund. Read More

Blume Ventures Hits 3rd Close of Its Second Venture Capital

Early stage investment firm Blume Ventures has hit a third close of its second venture capital and expects to complete the fundraising process in July. Till now the firm has made more than 20 investments in India from the new fund in the last 13 months. Such deals include funding in startups like RoadRunnr, test prep platform MockBank, internet of things-based energy data analytics provider Zenatix Solutions, peer-to-peer money transfer and payments app Chillr, Bangalore-based edtech startup FlipClass, and contacts management app InTouchApp. Read More

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