The asset management company Singularity Ventures AMC disclosed the first close of its new fund, which is aimed at growth-stage startups and has a cap of Rs 1,500 crore, at Rs 500 crore.
According to founder and chief investment officer Yash Kela, the Singularity Growth Opportunities Fund II, the company’s second fund, will make investments in startups that are active in industries such as manufacturing, consumer products, financial services, and enterprise software, as per reported by The Economic Times.
“Our model is such that we are not looking to take risks around business model, unit economics, tech-market fit and so on. What we are willing to do is take risks around scale-up and exits, and the intention is for our firms to have served at least 50,000 customers annually and earned over Rs 100 crore in annual revenue,” Kela said.
The company has so far made investments in businesses like Mcaffeine, a manufacturer of caffeine-based goods, WebEngage, an online telecom company, and Lohum, a manufacturer of battery materials.
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The team is supported by a strong group of investors and operators, is mentored by Madhusudan Kela, and is led by Yash Kela and Mithun Sacheti (Founder – Caratlane). Singularity AMC has become the go-to partner for growth-stage founders through its exceptional combination of extensive experience in capital markets and building leading Indian consumer internet businesses.
About Singularity Ventures
Capital market access for growth assets from a preferred provider of capital with distinction. Singularity AMC makes private equity investments in early-stage to late-stage Indian businesses.