Investors might have become wary of investing in growth stage companies for now. But, going by the increasing number of early to seed stage funds, there seems no dearth for seed stage or early stage investments. Now, according to a report in the ET, Manish Kheterpal has launched a new $15 million early stage fund called WaterBrige Ventures.
WaterBridge Ventures aims to invest between Rs 75 lakh and Rs 3.5 crore in more than a dozen ventures. With a life cycle of 5-7 years, the fund will primarily focus on pre-Series A to Series A investments.
As far as sectors are concerned, it is looking to invest in a broad range of sectors. These include consumer-focused mobile apps in media and telecom, ed-tech, health-tech and fin-tech, among others.
Mostly domestic institutional investors have invested in WaterBridge Ventures. High-net-worth individuals and companies along with many family offices will serve as investors in this funds. However, Kheterpal refused to divulge any details about them due to confidentiality issues.
Manish Kheterpal is a popular angel investor and has invested in popular startups like education marketplace EduKart and bike ride app Baxi. However, he won’t include these investments in the new fund. He was also a part of some of the biggest PE firms in India like Actis and Providence Equity Partners.
Other early-stage funds launched this year
This year has seen a number of companies and individuals floating early-stage and seed-stage funds. In the beginning of this year, Unicorn India Ventures closed Rs. 40 crore out of its 100 crore fund to invest in early-stage startups.
In February, another early stage investment firm Kae Capital closed its second round of $30 million focused completely on Indian startups. This was then followed by seed venture fund Unitus which launched its second fund of $50 million.
In April, Patni brothers and MohanDas Pai launched a Rs. 125 crore early stage startup fund called Ideaspring capital. While, US-based early stage VC firm Romulus Capital entered India with $75 million in its kitty. It has already completed its first investment of $2 million in the pharmaceutical company, Vyome Biosciences.