The fund will focus on pre-Series A investment of about 25-30 startups in the technology space
YourNest, an early stage venture capital fund India, today announced the launch of its second fund (Fund II) with a corpus of INR 300 crore (US$45 million).
The new fund will focus on pre-Series A investment of about 25-30 startups in the technology space. Annually, it plans to fund about four-eight ventures.
“We firmly believe that the best in the Indian startup world is yet to come. Our belief is strengthened by the large number of Indian corporate leaders and change makers, who have joined us as investors,” said Sunil K Goyal, Founder and CEO of YourNest.
“Early-stage investing will continue to be our forte; with our team of seasoned advisors, four dedicated fund managers and a growing pool of mentors and active investors, we plan to build on the momentum created with the first fund,” he added.
YourNest has also roped in Dr Vivek Mansingh, a 30-year global technology veteran, as a General Partner.
Mansingh brings with him a deep understanding of entrepreneurship and the entrepreneurial ecosystem. He has worn multiple hats as an entrepreneur, inventor, angel investor and a global leader. He has played executive leadership roles at Cisco, Dell, Fujitsu and HP and a number of startups in the US and India.
In the last two years, Mansingh has incubated five technology startups and is engaged with several YourNest portfolio companies.
Founded in April 2011 by Goyal, Sanjay Pande and Girish Shivani, YourNest invests in new connected economy represented by mobile, Internet, data analytics, software and cloud. It works closely with the founders in all areas including leadership, strategy, technology, go-to-market planning, sales, marketing, finance, next rounds of funding and healthy exit multiples.
The fund has invested in 16 companies from the first fund so far, including Uniphore, mycity4kids, Rubique, Arya.ai, Smart Software Testing Solutions, Simpli5d, SmartQ, seeDoc, Fashalot, aahaa stores, MoMark, and GolfLAN.
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