Scale Ventures is sector-agnostic and will be investing in over 30 early-stage startups by the end of the year
Delhi-based Scale Ventures, a venture capital firm that invests primarily in early-in-revenue startups, has acquired the portfolio of Delhi-based seed investor Guerrilla Ventures.
The transaction details were undisclosed.
As part of the deal, Guerrilla’s Founder Dr Ritesh Malik will join the Board of Directors at Scale Ventures.
Guerrilla was founded by Malik, who is also founder of Y Combinator-backed co-working space Innov8, located at Connaught Place, Delhi. Till date, Guerrilla has funded over 21 startups, including Asimov Robotics, Radix Healthcare, Harvin Academy, Fin Robotics and Innov8, with an exit to its kitty.
Scale Ventures was founded by Nilesh Rathi of Rathi Group of Companies and Rahul Narvekar, former CEO of IndianRoots.
Scale Ventures is sector-agnostic and will be investing in over 30 early-stage startups by the end of the year. The investment will be between INR 30 lakhs to INR 3.5 crore (US$45,000-US$US$500,000).
With this, the VC firm will be launching an accelerator programme in the coming time which will be a physical campus focusing on startups in the Tier2, Tier 3 and Tier 4 cities.
In the last two years, Rathi has invested in a number of small businesses in Pune.
“This acquisition of Guerrilla will open up attractive, fast-growing market and new growth platform to Scale Ventures and will also accelerate its effort to not just innovate but grow together,” said Narvekar.
“Apart from intelligence quotient, another key component for startups is emotional quotient which is most important. At times entrepreneur feels lonely and need someone to discuss when things get tough, through Scale, we will help startup at those times. Scale Ventures will be more about collaborations where, we will provide our portfolio with right connections and help from the ecosystem,” he added.
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