Fundlaunch is a quick summary of notable fund launches for startups.
Gujarat Government Launches Rs 200Cr Student Startup Fund
Chief Minster of Gujarat, Vijaybhai Rupani, has announced ‘The Student Startup and Innovation Policy’ to promote startups being created by students within the state. The new policy aims to provide Rs 200 crore in the form of grants to ideas developed by students. The government would create an Innovation and Pre-incubation Ecosystem Support (IPIES) across all universities of the state. IPIES will assist students in taking their ideas from proof of concept to MVP stage
Axiom Asia Closes $1B For New Asian Fund-Of-Funds
Singapore-based fund management firm, Axiom Asia Private Capital has closed its fourth fund, Axiom Asia IV, L.P, with over $1 billion in total commitments. The new fund will invest in buyout, venture capital, growth capital and other private equity funds. It currently manages four PE fund-of-funds with total commitments of over $3.5 billion.
Softbank Will Start Making Investments with $100B Vision Fund
Softbank is expected to reach the initial close of its $100 billion Vision Fund by the end of this month. All new and follow on investments in tech firms would be made through this new fund. The areas of focus for deployment of this fund would be IoT, Artificial Intelligence, Machine Learning, Robotics and Satellites. It has received commitments from a number of investors including Apple, Foxconn, family office of Larry Ellison, Saudi Arabia’s Public Investment Firm and More. Delhi will be one of its global hubs, and will have Rajeev Misra heading the fund.
Real Estate Developer Lodha Group Launches Rs 50Cr Startup Fund
Real estate developer Lodha Group has set up a Rs 50 crore startup fund. The fund would be deployed in startups operating in smart city and realty sector. It will invest in startups across stages, and would provide mentorship and network support as well.
Pi Ventures Creates Rs 200Cr Fund for AI Startups
Manish Singhal and Umakant Soni founded Pi Ventures has raised a Rs 200 crore fund for making investments in early stage AI startups.