December 8, 2022

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Riverwalk Holdings is the newest VC to hitch early-stage investing in India with a ₹150 crore debut fund

Whereas later stage startup fundraising perhaps on a downhill globally, buyers aren’t shying away to proceed with early-stage/Collection A offers. A validation of that’s the announcement by a brand new India-focused early stage VC, Riverwalk Holdings, debuting with a ₹150 crore corpus. The fund is backed by Singapore based mostly Thakral Group.

The investments shall be sector agnostic, and shall be mobilized in areas like Enterprise SaaS, Fintech and Shopper-tech manufacturers. Riverwalk plans to shell out ₹10 crore per startup, and has already taken 4 startups beneath this new fund’s wing. The fund is ready to be utterly emptied into startup accounts by a 12 months and a half.

The 4 startups which have drawn Riverwalk’s eyes in direction of them are Spotdraft(AI based mostly contract automation startup); The Ayurveda Expertise(one cease ayurveda platform); Mylo(neighborhood & commerce platform for folks); and Homeville(housing finance platform).

Satveer Singh Thakral, Founding Accomplice and Riverwalk Holdings, stated, “The founding ideas of Riverwalk have been formed by the Thakral Group’s 117-year legacy of constructing profitable companies based mostly on long run partnerships. The lifecycle of a start-up has its ups and downs and we’re dedicated to being supportive all through the journey. We’re grateful to have like-minded buyers who additionally share our funding philosophy.”

Riverwalk boasts of a seasoned management with over 10 years of expertise investing right into a collective record of 100+ startups throughout India, South East Asia and USA, noteable ones out of which embrace IPO sure branded pharmacy chain, Wellness Endlessly; AI based mostly AML platform, backed by Commonplace Chartered Ventures and HSBC Ventures, Silent Eight; e-commerce SaaS platform, Anchanto; and shopper intelligence platform, Mobilewalla. The group has had extremely worthwhile exits on their CV as properly, together with Karza Applied sciences, which has been acquired by Perfios for INR 600 crore; Dropsuite (ASX: DSE); LogiNext; Wigzo, acquired by Shiprocket; nCinga; and LBB.

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Thakral added that Riverwalk shall be capitalising on their huge stakeholder community to assist speed up startups that shall be partnering with them by way of this new fund, by offering them entry to main enterprises throughout Asia.

Jai Sumer Singh, Founding Accomplice, stated, “We need to companion with founders who’re centered on constructing basically sturdy and capital environment friendly companies. This philosophy has labored out properly for us previously and we’re simply centered on replicating it.”

The transfer comes as two international enterprise capital Giants, Y Combinator and Sequoia Capital, have delivered purple flag messages to the founders of their portfolio. YC even warned publish series-A startups that haven’t discovered an optimum product-market match to not anticipate additional funding for a while.