Riverwalk Holdings on Thursday said it had launched a Rs 150-crore fund to back early-stage startups. The early-stage, India-focused venture capital fund is anchored by Singapore-based Thakral Group, and is also backed by leading business houses across India and Singapore.
According to the company, the fund will focus on themes such as enterprise SaaS, fintech, consumer-tech and consumer brands. Of the overall fund size, it will invest up to Rs 10 crore in Seed to Series A startups. So far, Riverwalk has made investment in four startups — Spotdraft, The Ayurveda Experience, Mylo and Homeville. Going forward, the fund is expected to be deployed in the next 18 months, the company said in a statement on Thursday.
Jai Sumer Singh, founding partner, Riverwalk, said, “We are looking to partner with founders who are focused on building fundamentally strong and capital efficient businesses. This philosophy has worked out well for us in the past and we are just focused on replicating it.”
Previously, the company has invested in several startups, including the IPO-bound pharmacy chain Wellness Forever. Additionally, Riverwalk also marked exits in Karza Technologies, which was acquired by Perfios for Rs 600 crore, Dropsuite, LogiNext, Wigzo and a few others.
The VC fund aims to leverage its stakeholder network to accelerate the growth of start-ups by providing access to leading enterprises across Asia, said one of its founding partners.