Singapore and Hong Kong-based collaborative investment platform Fundnel Limited has entered into an official partnership with India’s Anthill Ventures, to give startups in their respective portfolio access to each other’s platform for capital raising.
The partnership will allow all startups in Anthill and Fundnel’s portfolios to raise more funds, expand their business and reach out to a wider clientele base, the company said in a statement.
Anthill is a leading venture builder in India, engaged in early stage business development. Startups in Anthill’s portfolio are placed in a six month speed scaling programme that offers inhouse mentorship, funding and training called Ant Factory, after which they will seek Series A financing for the continual success of their ventures.
With access to Fundnel, the startups will get placed onto Fundnel’s platform for the completion of their fundraising campaign.
Fundnel will also provide Anthill with a pipeline of new startups from Southeast Asia for incubation in Ant Factory.
At the same time, both Anthill and Fundnel will have the opportunity to gain access to each other’s network of investors, industry experts and partners within Asia.
Fundnel co-founder Kelvin Lee commented that the strategic collaboration initiative with Anthill is a pledge of confidence to execute deals across Fundnel’s established network in the region.
“In addition, Anthill will act as our proxy to India’s market and provide a steady pipeline of deal flow to our fundraising platform, and vice versa. This reiterates our mission of bridging funds from the crowd to local and regional SMEs. Ultimately, we hope to work together to build a holistic ecosystem that will sustain and grow the startup community in Asia.”
Two weeks ago, Fundnel announced six completed deals worth approximately $5 million for startups on its platform.
In 2015, Anthill nurtured and secured funding for 15 startups in the marketplaces or marketplace enabler sectors from diverse Industry verticals such as automotive, education, entertainment, and social impact.
The company is targeting to increase their portfolio to over 100 startups in more diversified sectors for 2016.
Anthill founder and chief accelerator Prasad Vanga said: “With our stringent due diligence procedures in place, we are confident of placing credible enterprises with high growth potential onto Fundnel’s platform for subsequent developments. We look forward to combining our network and expertise in order to foster and fundraise promising SMEs within the growing startup ecosystem.”