Singapore-based ThinKuvate, an angel investment platform, has closed its first round of funding for its maiden fund, ThinKuvate India Fund –I of Rs 100 crore at Rs 25 crore.
This achievement was attained within four months of the official launch of the fund, indicating that the Indian startup market has a robust demand from the investment community.
The ThinKuvate India Fund aims to invest in start-ups in the seed stage to the Series A rounds. It also has a non-biased sector approach targeting firms whose practices provide evidence of the growth of targeted business ventures, increased likelihood of future profitability, and qualified founding teams.
The fund's initial investments cover various markets, such as vehicle autonomy, cyber security systems, same-day delivery services, and workforce management.
Among its first investments, ThinKuvate has allocated funds to four innovative startups: Rosh.ai, which specializes in autonomous vehicle technology; Zippee, a same-day delivery platform; Pantherun, a cybersecurity startup; and NymbleUp, a provider of workforce management solutions. These investments demonstrate ThinKuvate's ability and willingness to sponsor pioneering activities in one or more sectors.
In addition to direct investments, ThinKuvate frequently collaborates with leading venture capital firms and family offices to co-invest, leveraging a synergistic approach that enhances the capital and resources available to startups. Besides, it enhances the effectiveness of such investments and aligns ThinKuvate with other active investors worldwide, thus increasing its presence and authority among startups.
The ThinKuvate India Fund—I have attracted substantial interest from non-resident Indians (NRIs), with over half of the investors hailing from diverse countries such as Singapore, Australia, the US, the UK, and Indonesia. This shows that Indian startups attract attention worldwide and that the expectation is to optimize their capability to grow internationally.
In the future, the fund plans to invest in 30 to 40 startups, with the amounts being in the Rs 1.5 crore to Rs 4 crore range per startup. Ghanshyam Ahuja, the managing partner of ThinKuvate, was also positive about the fund's performance and shared that the fund is already on the move in achieving what it has planned for its financial goals. At the same time, they have managed to create extremely high-quality start-ups.
Similarly, Mayank Jain, CEO of ThinKuvate, also pointed out that the business experience and huge corporate connections of their investors are also significant factors in bringing rapid growth for the portfolio firms post-investment.