Global early-stage venture capital (VC) fund Antler on Wednesday said that it plans to invest over $100 million across Indian technology startups in the next four years.
The fund has appointed seasoned investor Nitin Sharma as partner and co-lead for its India operations. Sharma earlier founded FirstPrinciples VC in 2018, which has invested in over 35 startups including Fynd, acquired by Reliance Jio; Niki, backed by Ratan Tata; Pocket Aces, backed by Sequoia among others.
Sharma will co-lead the India efforts with Rajiv Srivatsa, who is the co-founder of Urban Ladder, and was appointed to the fund last year.
Prior to this, Sharma was a part of the investment team at Lightbox Ventures, a consumer internet fund, whose portfolio includes InMobi, Dunzo and Cleartrip. He was also a partner with venture firm New Enterprise Associates in the US.
During its launch in June, last year, Antler said that it plans to invest in up to 40 companies within the first year of its operations in the country. The VC firm looks to make investments right from the early stage, all the way to Series A and B.
With the $100 million fund, it plans to back 150 Indian startups over the course of next 4 years.
“We believe the Indian entrepreneurial ecosystem has massive potential. We want to lower the barriers for exceptional people to start a technology company, regardless of their background or geography. In addition, we want to provide India originating startups with Antler’s global platform to ensure startups from India can expand, scale, succeed and tap into expertise on a global level,” said Magnus Grimeland, founder and CEO of Antler, earlier during the launch of the fund in India.
Singapore-headquartered Antler is present in 11 locations around the world and has invested in over 160 technology-companies till date.
The article was first published on livemint.com