Mumbai: JSW Ventures, the venture capital arm of the JSW Group, on Thursday said the Securities and Exchange Board of India (Sebi) has approved its ₹ 100 crore fund that will invest in early-stage companies.
The fund will invest in technology-enabled start-ups in education, healthcare, financial services, SaaS and enterprise software over a three-year period, JSW Ventures said in a statement.
Parth Jindal, son of group chairman Sajjan Jindal, will supervise the fund. The younger Jindal was also recently appointed managing director of JSW Cement. The fund has also appointed Gaurav Sachdeva, a former executive of Brand Capital, as managing partner, the statement said.
“As an early-stage fund, we will not only provide capital but will remain strong partners of our investee companies as they grow," Jindal said. The fund has been over the past year evaluating partnering start-up companies, which make innovative products, services or technology.
The $11 billion JSW Group has interests in steel, energy, infrastructure and cement