The startup scene in India is booming, and the country may well boast of the fastest growing startup ecosystem globally. Risk capital investments in India in the first half of this year have surpassed the total amount startups raised in the whole of 2014, and the record funding and deal making this space provides is attracting more venture capital investors.
The latest to join the fray include Sudheer Kuppam, former India and Asia Pacific managing director of Intel Capital, who has formed venture capital and growth equity firm Epsilon Venture Partners to back investments in the technology sector and startups, according to a report in VCCircle.
In yet another development, Hyderabad-based venture capital firm Parampara Capital has launched its first fund – Parampara Early Stage Opportunities Fund, with a corpus of Rs 100 crore ($16 million). The maiden fund will invest in early and growth stage startups supporting technology and innovations across sectors including healthcare, consumer, financial and industrial.
According to Kuppam, the new firm will largely pump in money in product innovation firms in North Asia and Southeast Asia, and services innovation firms in South Asia, Kuppam said. He added that the firm will be based in Singapore with operations in India and other Asian countries, with the exception of China.
“Most of my experience has been in the technology space and so we will look at making opportunistic investments within the technology spectrum,” Kuppam said. He is currently the sole managing partner of the new VC firm.
Kuppam joined Intel Capital in 2000 and was heading the Asia Pacific region for the firm since 2007. At Intel, Kuppam was part of the investment committee that approved investments in Asian regions including India, Japan, China, Singapore, and South Korea. Kuppam holds a bachelor’s degree from IIT Madras and a master’s degree from Rensselaer Polytechnic Institute, the US.
Parampara Capital has been initiated by Venkat Vallabhaneni, Sridhar Rampalli & Jatin Desai to encourage entrepreneurs with unique, disruptive ideas and to handhold them to evolve into successful businesses.The team of Parampara has decades of expertise in technology, operational management, financial, and business strategy domains.
To begin with, the firm will invest Rs 3-10 crore in each startup that has a presence of at least a year in the Indian market. Post investment, the fund’s management will also actively participate in mentoring their portfolio companies on critical business skills and help steer them towards growth.