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Early stage venture fund YourNest India Fund has raised its second funding of Rs 300 crore from several Indian HNIs, AIFs (Alternate Investment Funds) and Fund-of-Funds.
The new fund will focus on pre-Series A funding across 20-35 technology and technology-enabled start-ups. YourNest plans to invest in about 4-8 ventures this year. It has already received about 4,000 proposals.
This will allow the fund to construct a concentrated portfolio where YourNest will be able to co-create successful companies by mentoring and working closely with the start-ups, the fund said in a statement today.
YourNest 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.
YourNest portfolio will be built around technology and tech-enabled businesses, with greater interest in areas like Internet of Things, Electronic System Design, Artificial Intelligence, Advanced Robotics, Enterprise Software and Mobile Internet.
Sunil K Goyal, Founder and CEO , said, “We firmly believe that the best in the Indian start-up 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. We are committed to our core values of being fair and transparent in managing the fund, while cherry picking ventures that demonstrate strong business fundamentals and growth.’’
The firm also announced that it is bringing on-board Vivek Mansingh, a 30-year global technology veteran, as a General Partner.
Mansingh has held leadership positions in several global corporations and is mentor to several technology start-ups in India and USA.
In the last two years, Mansingh has incubated five technology start-ups and is engaged with several YourNest portfolio companies.
He is currently Chairman of the Board, AxisCades, an integrated engineering services company listed on the Indian stock exchanges and also on the board of leading NGO, Janaagraha.
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