Exclusive: India’s GHV Accelerator planning to fund startups in Singapore

Vikram Upadhyaya, chief mentor, GHV

Gurgaon-based startup accelerator Green House Ventures (GHV), which recently added four startups- IStyleYou, RoadGods, PindropMusic and AdUrCup in its portfolio, is planning to fund startups in Singapore now, its next international destination, Vikram Upadhyaya, GHV’s chief mentor and accelerator evangelist, told DEALSTREETASIA.

Started by serial entrepreneur and Indian Angel Network member Upadhyaya, GHV Acclerator provides mentorship, capital and a controlled environment to startups to help them grow multi-fold under its 12-month acceleration programme.

“We are also planning to invest in 10 more startups this year and accelerate them for sustainable growth,” Upadhyaya said.

The accelerator is interested to invest in health-tech, fintech, big data & predictive analysis, consumer tech, digital advertising and agri-tech startups, with a ticket size of $100,000 in each startup.

Talking about the investment strategy, he said, “our strategy is to usher startups at early seed stage; after the proof of concept is in place; and prepare them towards sustainable growth and operational break-even, which helps them to prepare for good business matrices and hence, an accelerated pace towards the next round of funding.”

The other startups which are already on GHV’s board are LazyLad, My Taxi India, Foodport, PickMyLaundry, CaRPM, Applop and FitMeIn.

Before investing in a particular company, Upadhyaya says, “we always use the filter of T.E.S.T PoC – which stands for team – execution capabilities – scalability – technology and proof of concept. While each of these are important, the ideal setup is that which has a perfect balance of all the above. Once screened for this, we are reasonably sure of their success.”

GHV aims to exit from the portfolio firms in a time frame of 3-5 years.

The accelerator has a partnership with Japanese VC fund World Innovation Labs (WiL), NASSCOM’s 10,000 Startups program and Letsventure, a platform which brings startups together with angel investors.

GHV is one of the horizontal accelerators in India which invests across various sectors. Hong Kong-based Jaarvis Labs Ltd, a technology company, also started the Jaarvis Accelerator in Gurgaon last year in June and has graduated more than a dozen startups.

Another Silicon Valley-based seed fund and startup accelerator 500 Startups, recently launched a new $25 million ‘Kulfi Fund‘ to focus on India including Sri Lanka and Bangladesh.

There are some vertical accelerators also which only focus on one sector. Last week, Pune-based MIT started education focused accelerator programme called Edugild. Hyderabad-based start-up incubator T-Hub is also looking to set up a health tech accelerator, to mentor and fund 10-15 innovations, in May this year.

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