Spring Marketing Capital has roped in Belgian investment holding company Verlinvest as an anchor investor in its maiden fund. In another development, Y Combinator (YC) has selected 26 Indian companies for its winter 2020 batch
Verlinvest backs Spring Capital fund
Branding and marketing-focused Spring Marketing Capital was launched by Raja Ganapathy, the former chief marketing officer of Sequoia Capital India, along with Vineet Gupta and Arun Iyer last year. It will also invest in early-stage, consumer-facing startups.
Spring Marketing Capital’s Sebi-registered Category-II fund plans to raise $30 million, The Economic Times reported.
YC selects 26 startups for winter batch
Silicon Valley accelerator Y Combinator (YC) has selected 26 Indian companies for its winter 2020 or W20 batch, The Times of India reported.
This is almost the double of what the influential accelerator had shortlisted for the previous batch. The Mountain View-based YC typically picked 5-10 startups each batch from India over the last 2-3 years.
In an earlier report, YC’s president Geoff Ralston had said that he wants to fund more Indian unicorns and that India will dominate as a market, outside the US.