The fund sponsors have committed over 8 per cent of the fund against the regulatory requirement of 2.5 per cent
Venture capital firm BLinC Invest announced the final closure of its BLinC Fund II, a SEBI-registered fund.
The fund sponsors have committed over 8 per cent of the fund against the regulatory requirement of 2.5 per cent, said BLinC.
In April 2021, BLinC Invest announced the launch of a ₹100-crore SEBI registered Category-II Alternative Investment Fund (AIF) and its first close of ₹30 crore.
The fund has also made its first investment in an insurtech start-up, Vital, and led its series A round. The firm offers investment assistance to early-stage Indian Edtech and Fintech companies with a ready product, over ₹2 crore revenue and multiple market validation.
These firms must also show evidence of market potential (at least $1 billion) and an ability to have global dominance.
On the back of BLinC Fund II, it strives to make 5-7 investments in the range of ₹10-20 crore. The fund takes a co-founder approach with its investments by working very closely with the portfolio company management teams to help them scale.
Founder and MD of BLinC Invest, Amit Ratanpal, said, “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 the success of these early-stage companies, and we believe these two sectors show the most potential from a perspective of scale and profitability in light of the monumental positive impact that they have on their users and their lives.”
BLinC Invest team has invested over ₹I300 crore in 25 companies to help them build products and scale their member base. The company has also founded eight businesses with eight prominent exits.