The new fund is named ‘Ryoma Ventures’, which will be sector-agnostic and will focus on profitable start-ups irrespective of what stage of functioning they are in. The company is also looking to collaborate with other investors and funds while working to close the present fund.
A hybrid of investment banking and start-up acceleration, FundVice has announced an $11 million venture capital fund in India. The new fund is named ‘Ryoma Ventures’, which will be sector-agnostic and will focus on profitable start-ups irrespective of what stage of functioning they are in. The company is also looking to collaborate with other investors and funds while working to close the present fund. Henceforth, FundVice will be investing only in unicorns and future dragons.
FundVice raised over INR 60 crore for start-ups in n a year, and also provided curation and mentorship. Later, the company moved to a direct advisory role in start-ups across EdTech, FinTech, and Logitech. FundVice is also planning to raise over INR 150 crore, which shall be live in the market very soon. By the time 2021 ends, the company intends to raise over INR 250 crore and accelerate a minimum of 50 deals. Offf-late, FundVice has orchestrated the seed round for Vanity Wagon, India’s first clean beauty marketplace, with the intention of duplicating this success in the future as well. FundVice chose the Japanese name Ryoma cause it means a dragon and a horse in Japanese, and this will be a global fund.
Source: Business World
