SucSEED Indovation Fund, a Venture Capital Angel fund, registered with SEBI

2nd September 2020: SucSEED Indovation Fundreceived licence as Angel Fund in the Category 1 AIF from market regulator SEBI. The INR 100Cr fund, sponsored by a group of active investors-mentors to nurture tech innovationand backearly stage Tech start-ups engagedin solving problems of masses, using emerging deep-tech innovations.

SucSEED Indovation Fund has grown out of SucSEED AngelsNetwork and IIITH Tech Ventures, an early stage tech seed initiative with IIIT Hyderabad Foundation. It is sponsored by serial angel investors, mentors, industry leaders and people closely associated with the startup ecosystem for a long time. The Fund sees a team of proven leaders in tech & entrepreneurship, venture capital investment, risk management, funds and transaction management, joining together for the sole purpose of bringing tech innovation to the market.

Fund will work towards strengthening angel investment landscape by bringing institutional investors, family offices, HNI sand upper middle class retail investors to actively participate in startups growth while at the same time also provide start-ups with a comprehensive umbrella network for all their requirements.

Vikrant Varshney, Co-founder & Managing Partner of Fund said, “The fund will work very closely with technology incubators like CIE-IIITH, T-Hub and many more. Primary focus of the fund will be on Tech Innovatiins in EdTech, FinTech, Health-tech, Enterprise SAAS & B2B, Security & RegTech, Digital Economy & Smart City sectors.The Fund will help portfolio companies strengthen their product offering, go-to-market strategy, and build high levels of governance and transparency so that they progress to become category leaders. We will drive investments in seed to pre-series A stages and initially invest in about 20 start-ups on an annual basis before rapidly increasing the scale of our operations and impact.

Dhiraj Kumar Sinha, Co-founder of the Fund said “Today’s startups are tomorrow’s legendary companies and SucSEED Indovation Fund would focus on finding passionate and focused entrepreneurs and supporting them to find capital for building innovative tech solutions, solving problem for massesand scalling their businesses quickly.

J. A. Chowdary, Co-founder of the Fund said “We will focus on the early-stage Tech ecosystem and support the ‘Atmanirbhar’ and ‘Digital Economy’ initiatives & solutions meeting needs of B2C sutomers as well as initives of Corporates & Governments.

The fund will focus on Indian startups and help the India growth story. Previous extensive experience of working with Angel community has provided the insights that will help in discovery of good startups and develop the best ways of guiding portfolio companies towards their goal susing mentoring programs. The experience and expertise of the Fund founders will immensely benefit the entrepreneurs who struggle at early stages of their enterprise. The fund is expected to play a significant role in building an ecosystem for the deep tech-startups.

Supplementary Information Boiler Plate -About Sucseeed IndovationFund

SucSEED Indovation Fund has grown out of SucSEED Angel Network and IIITH Tech Ventures, an early stage tech seed initiative by IIITHyderabadFoundation. Its sponsored by serial angel investors, mentors, industry leaders and are closely associated with the startup ecosystem for a long time. The team of proven leaders in Tech & Entrepreneurship, venture capital investment, risk management and funds and transaction management, joined together for the sole purpose of bringing tech innovation to the market.

While SucSEED Angel Network was already supporting early stage investments, but investing through Fund will bring in funds through a single entity in the cap-table of start-ups and additional focus on Sectorial research, professional handling and enhanced investor reporting. Being SEBI registered also ensures that investments done by Fund would meet governance and compliance standards for the investors.

Partners and Team members of the Fund have 100+ years of cumulative experience within technology, fund management and startup ecosystem and have already invested in 40+ companies

• Vikrant Varshney -Managing Partner -Indovation Fund; Co-founder, SucSEED Venture Partners & IIITH Tech Ventures, HSBC & Fidelity Alum

• Dhiraj Kumar Sinha -Co-founder, SucSEED Venture Partners; M&A and Transaction Lawyer

• J A Chowdary -Ex IT advisor & SplChief Secretary, Govt of AP, Founding Director of STPI Bangalore, Hyderabad&Chennai

• Lax Chepuri -Co-founder, Focalcxm and Founder and CEO of Texhnogen

• Ramesh Loganathan -Extensive R&D leadership (Pramati, Progress, Informix)

• V V S N Raju-Board member at India Innovation Fund, Co-founder, IIITH Tech Ventures Vineeta Gupta VP-Investments, Indovation Fund, ExEverstone Capital (PE), Edelweiss, JP Morgan (IB), ICICI Ventures (PE),

Theme of the Fund–Indian Innovation for mass needs in following sectors – EdTech, FinTech, Health-tech, Enterprise SAAS & B2B, Security & RegTech, Digital Economy & Smart City”.

The Fund will invest in three Buckets

1. Bucket A -Seed Fund -15-20% of Investible Amount –towards Early / Seed Stageranging between Rs 25 lacs -Rs 50 lacs investmentper startup.

2. Bucket B -Growth Capital -40-50% -towards Growth Capital ranging between Rs 60 Lacs -Rs 2crore investmentper startup.

3. Bucket C –Pre-Series/ Bridge Round -30-40% -towards Follow-on Capitalor joining Pre-Series A investmentsranging between Rs. 2Crore -7 Crore investment per startup.

Most Popular

More from Author

Read Now

Wardwizard Innovations Revolutionizes Skill Development for Defence Personnel with EV Centre of Excellence

Discover how Wardwizard Innovations is paving the way for defence personnel's skill development with the establishment of an EV Centre of Excellence, opening doors to exciting opportunities in the electric vehicle industry.

Women’s World Banking Brings Making Finance Work for Women Summit to Mumbai

MUMBAI, India | 24th May 2023: Women's World Banking, a global leader in advancing financial inclusion for low-income women across the world, is bringing the Making Finance Work for Women Summit to Mumbai, India on 24-25 May 2023. Convening for the first time in person since 2019, the Making Finance Work for Women Summit will...

How This Startup is Pioneering Sustainable Wellness with Circular Economy and Eco-Conscious Approach

Discover the story of Nirmalaya, an Indian startup that is changing the game with their eco-friendly incense sticks, organic diffusers, and more. Get inspired by their vision and mission by reading our interview with them.

What Nigeria Can Learn From India’s Economic Success

Understand the similarities and challenges that both India and Nigeria face in terms of gender inequality in the workforce, and the opportunities for creating more domestic and foreign investment opportunities.

This Startup is Changing the Game with ‘As Good As New’ Pre-Owned Smartphones

A new player has entered the pre-owned smartphone market, and they're making waves. ControlZ, the brainchild of Yug Bhatia, is disrupting the industry with their Renewed smartphones, which offer a like-new experience. This startup's mission is to extend the lifecycle of mobile phones and reduce the number of devices that end up in landfills.

Atal Community Innovation Centre at BML Munjal University Announces USD 1 mn Funding for Startup Enthusiasts at Propel Pitchfest23

Highlights: Propel Pitchfest23 puts a spotlight on diverse fields of startups, including those led by women and in fields like Industry 4.0, deep-tech, sustainability and social impact The startups participating in Propel Pitchfest23 will have the chance to pitch to investors for funding. The participating investors have collectively created...

This Bengaluru-based Startup is Disrupting the Credit Scoring Industry with AI and Machine Learning

Learn how a young Bengaluru-based company is disrupting the credit scoring industry by using AI and machine learning to provide more accurate credit scores.

Indian Startup Tvarit Secures €5M Funding for AI-Powered Sustainable Metal Manufacturing in Germany

Tvarit, Led by Indian Entrepreneurs, Secures €5M Funding to Enable AI-Powered, Zero-Waste Manufacturing

Quantum Energy’s EV 2-Wheelers Make a Grand Entry into Delhi-NCR Region

Quantum Energy, a leading electric vehicle start-up, has launched its first-ever showroom in the Delhi-NCR region. The 2000-square-foot showroom will house the company's revolutionary 2-wheelers and is strategically located in Sector 24, Rohini. Read on to learn more about Quantum Energy's grand opening and their vision for a greener India.