Mantra Capital, which focuses on early-stage investments into startups, has announced a $60-million venture capital fund. It is targeting to invest $5,00,000 to $2 million in startups that have raised seed fund and have begun to tap pre-Series-A funds.

“Of the targeted $60 million, we have already raised $24 million,” Jay Krishnan, General Partner (India) at Mantra Capital, has said.

Jay was the maiden Chief Executive Officer (CEO) of tech startup incubator T-Hub.

Announcing the details of the United States (US)-based fund and its objectives along with his other partners, Srikanth Chintalapati and Kevin Jacobs, he said that the cross-border fund will be accessible for startups from any geography.

“We are already in talks with a few of them. We will make our first investment from the fund in a month. We will invest sums in the range of $500,000 to $2 million. This could vary in some instances,” he said.

The venture capital (VC) fund is looking at investing in about 10 startups a year. It will invest in startups working in areas such as artificial intelligence, food tech, agri tech, property tech, ed tech, transport, logistics, med tech, robotics, Blockchain and space tech.

“We will help startup scale up their operations through partnerships with investors and global network,” Srikanth, Partner at the VC fund, said.

Jay will head the deal flow in India, handling product management and business development for the portfolio startups, while Srikanth will support Indian portfolio startups in product development and scale up efforts. Kevin will take care of the deal flow in the US and will also manage exits or merger and acquisitions of the portfolio startups.

Mantra Capital will also provide offshore venture services and managed services to global startups.