Thu. Mar 28th, 2024

Mumbai-based industrialist Akshaypat Singhania, Chairman and Managing Director of JK International, and Director of JK Organisation, is looking to allocate ₹100 crore, in order to support early-stage startup in India, according to an Economic Times report.

“This is entirely proprietary capital. I don’t have any plans to raise funds from external investors,” Singhania told ET.

He looks to invest across media and entertainment, lifestyle, food and beverages, healthcare, and consumer segments. He will focus on seed to series A stage startups and looks to write cheques ranging from $2 million to $4 million.

While the period of investments will depend on the maturity of the business, he intends to invest for a period ranging from five to seven years, with a minimum stake of 26% in the ventures.

Singhania said that he has already made two investments, without disclosing the details. He expects to close his third investment, which is in the oral healthcare segment, soon.

While the other two investments include a South-based quick service restaurant chain and a lifestyle venture.

The growing Indian startup ecosystem is attracting more and more established Indian businessmen. They are looking to leverage the growing opportunity in the startup segment.

Last month, Cyrus Mistry, along with his brother Shapoor Mistry, announced his new venture capital firm Mistry Ventures, to incubate new businesses.

By Varun

Startups | Books | Ideas

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