Mumbai-based enterprise capital agency BLinC Invest on Thursday introduced the ultimate closure of BLinC Fund II, a Sebi-registered fund. The fund was oversubscribed, having acquired sizeable commitments from a number of Indian and international traders, together with HNIs, household workplaces, corporates and institutional traders.
Additionally, the fund sponsors have dedicated over 8% of the fund towards the regulatory requirement of two.5%.
BLinC Invest initially introduced the launch of its Rs 100-crore Sebi-registered Category-II Alternative Investment Fund (AIF) in April 2021 with a primary shut of Rs 30 crore. The fund has additionally made its first funding in an Insurtech start-up — Vital — and led its Series A spherical in June final yr.
BLinC Fund II will primarily give attention to edtech and fintech segments, particularly within the early phases. The fund has structured a easy standards to find out start-ups for funding — it should provide funding help to all early-stage Indian edtech and fintech firms with a prepared product with greater than Rs 2-crore income. These corporations should additionally present proof of market potential of not less than $1 billion and a capability to have international dominance, BLinC mentioned in an announcement.
On the again of BLinC Fund II, the corporate goals to make round 5-7 investments within the vary of Rs 10-20 crore. The fund takes a co-founder strategy with its investments by working very carefully with the portfolio firm administration groups to assist them scale. The fund may also leverage the wealthy trade expertise of its advisory board to empower the portfolio firms.
“We take immense pleasure in offering our extended help by way of funding as well as expertise to both edtech and fintech sectors as they are undoubtedly the backbone of the Indian economy. Technology has emerged to be the key enabler to success of these early-stage companies, and we believe these two sectors show most potential from a perspective of scale and profitability in light of the monumental positive impact that have on their users and their lives,” Amit Ratanpal, founder and MD of BLinC Invest, mentioned in an announcement.
BLinC Invest staff has efficiently invested over Rs 300 crore in main 25 firms prior to now. The fund has additionally eight distinguished exits as properly.
BLinC’s new fund comes at a time when the Indian start-up ecosystem has damaged all earlier funding data, with the nation having round 96 unicorns so far.
A bit of this unicorn creation befell within the final one yr alone.