Thu. Mar 28th, 2024
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In an attempt to invests in the pre-seed to series A funding rounds when early-stage financing for India’s startup ecosystem has dipped, the founders of seed-stage incubator Investopad have launched their first-ever fund, the $25 million (approx INR 180 crore) sector-agnostic Good Capital, cited Economic Times.

The fund, Good Capital, has commenced its maiden close at $12 million (approx INR 85 crore), and counts strategic investment company Symphony International Holdings as one of its anchor investors.

Among its list of limited partners, the fund has taken a number of European family offices and Silicon Valley-based entrepreneurs, including Sunny Madra, cofounder of Autonomic.

“Good Capital gives us the opportunity to provide meaningful capital and access to the companies that we are backing. We are thrilled to bring on some of the best-in-class institutional investment firms and Silicon Valley entrepreneurs to be a part of the early-stage opportunity in India,” Rohan Malhotra, managing partner at Good Capital, said.

Investopad was founded in 2014, with the mission to support and build a thriving startup ecosystem of entrepreneurs, investors, and mentors by developing community workspaces for professionals and small businesses.

While, recently, Flipkart also announced a fund to back early-stage startups to seed innovation in areas related to ecommerce ecosystem.

“Conventionally, funds have targeted the top of the pyramid by exploring visible opportunities and replicated US companies and models. In contrast, Good Capital’s first principles thinking applied to India’s larger economy, which is coming online at scale with a supporting ecosystem for the first time, has been refreshing to see,” Dinesh Moorjani, MD at Comcast Ventures and cofounder, Tinder, said.

Also read: Flipkart co-founder Binny Bansal eyeing to launch venture fund for Indian startup ecosystem

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