The fund will seek to invest between $50,000 and $500,000 in 10-15 start-ups every year.
Canada's Ryerson Futures Inc and Chokhani Group have joined hands with Zone Startups India (ZSI) to invest $15 million fund to empower the early stage technology businesses.
The fund will seek to invest between $50,000 (Rs 27,50,000 approx) and $500,000 (Rs 2,75,00,000 approx) in 10-15 start-ups every year.
This fund will make investments in highly scalable technology startups that are part of the Zone Startups India accelerator, and also will seek to find new startups to bring in to the program. The fund will be raising capital from both Corporates and other high net worth individuals.
Jupiter Dyechem, a part of the Chokhani Group of Companies, is one of the key suppliers of bulk petrochemicals in the Indian market and Zone Startups is a global network for founders, investors and corporate innovators to achieve local, and international growth.
"We have been active making early stage investments and have seen tremendous interest in the market. Partnering with an existing accelerator allows us to leverage the benefits of a formalised programme," Anil Chokhani, a serial angel investor with Mumbai Angels.
“We are seeing many great startups come through Zone Startups India, (our Accelerator Program in Mumbai); launching a fund to help rapidly advance these startups is a logical next step now that we have been able to establish a strong network in India with our partners. Teaming up with Anil and Kirshna Chockhani increases the size of our network and amount of capital that we can invest to scale innovative technology companies,” said Matt Saunders, President of Ryerson Futures Inc.
Business Opportunities
Our Group Sites
Popular Cities
