Taxmantra Global launches $100m fund to invest in Indian, SEA startups

Photo: Pixabay

Indian tax and legal services firm Taxmantra Global (TMG) has announced the launch of its standalone investment banking arm and private investment arm ProfitBoard Ventures, to back technology-enabled startups in India and Southeast Asia.

Headquartered in Singapore, ProfitBoard Ventures will assist early- and growth-stage startups in fundraising through its consortium of investors. It has already onboarded a consortium of global investors to inject $100 million funding into selected startups in the next 18 months, per a statement.

“Inadequate capital is the number one roadblock on the path to scale from idea-stage. This is where ProfitBoard Ventures will offer quality capital and much-required hand-holding to early- and growth-stage founders. Our three-year goal is to nurture 100-plus startups from India and Southeast Asia,” said Alok Patnia, managing partner of ProfitBoard Ventures.

TMG has assisted in 100+ deals in the last three years translating to about $180 million funding in its existing portfolio of startups, per the statement.

Taxmantra has a presence in India, Singapore, and the USA, and is involved in setting up business, cross-border tax, and legal compliance with fundraising assistance. The firm claims to have serviced 40,000 clients globally.

According to the company, at the end of 2019, India stood as the 3rd largest startup ecosystem in the world, with 26 unicorns. In 2020, COVID-19 became another black swan event, with a decline in overall investments, especially April-June.

Investments are, however, expected to reach pre-COVID levels by the end of 2020. Median ticket size for seed- and early-stage startups are expected to increase. With the shift towards digitisation and remote working, deep tech, edtech, health-tech, AI/ML startups would have an edge.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.