US-based venture capital firm Entrepreneurship & Venture Capital (EVC) today launched its $50 million India-centric fund.
The VC firm, led by serial investor and entrepreneur Anjili Jain, will focus on early stage investments in ad tech, e-commerce, gaming, education, mobile apps, enterprise software, wearables and Internet of Things (IoT), according to a release.
EVC also operates accelerators in the US and India where it provides capital and mentorship to startups and entrepreneurs. The accelerators provide co- working spaces and mentorship to entrepreneurs.
This new fund will typically invest $100,000-$5 million in each startup, while its accelerator could invest $5,000-$100,000 in exchange for equity in the ventures.
“Today, India has emerged as one of the most assuring entrepreneurial landscape. We have launched the Fund looking at the opportunities that Indian ecosystem has to offer and the gap that we can bridge by supporting new businesses that can put India on the global entrepreneurial map.” said Anjli Jain, Managing Partner, EVC.
Prior to EVC, Jain founded and invested in cloud-based, self-service mobile app development platform Kryptos Mobile, software-as-a-service (SaaS) provider LookingGlass Platform, IT helpdesk and student services provider BlackbeltHelp, among others.
Indian startups have attracted a lot of investor attention in the last one two years, with 2015 showing record levels of investment in startups. According to data released by CBInsights, venture-backed companies raised about $7.86 billion in India last year in 480 funding deals.
Recently, US-based accelerator and investor 500 Startups announced a new $25 million India-focussed fund, which will invest in early-stage companies with product-market fit and demonstrated traction.