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Entrepreneurship & Venture Capital announces $50 million India-focus fund

Fund will invest in ventures Internet of Things, mobile space, ad-tech, e-commerce, gaming, wearables, education

New Delhi: US-based early stage investor Entrepreneurship & Venture Capital (EVC) on Monday announced a $50 million fund focused on the Indian market.

The fund will invest in technology ventures across sectors such as the Internet of Things (IoT), mobile space, ad-tech, e-commerce, gaming, wearables and education. The ticket size of the investments would range from $100,000 to $5million.

“Today, India has emerged as one of the most assuring entrepreneurial landscapes. We have launched the fund looking at the opportunities that the Indian ecosystem has to offer and the gap that we can bridge by supporting new businesses that can put India on the global entrepreneurial map," said Anjli Jain, managing partner, EVC.

Jain has over 15 years of experience in the start-up ecosystem. She has been an entrepreneur as well as an investor.

As an entrepreneur she founded Kryptos Mobile, a cloud-based, self-service mobile app development and publishing platform in 2012. Other ventures founded by her include BlackBeltHelp, LookingGlass Platform and OculusIT.

EVC also runs an accelerator programme in Gurgaon where it provides capital, mentorship and physical and virtual co-working space to entrepreneurs.

The role of the mentors is to help entrepreneurs transform their ideas into viable business propositions. The accelerator invests in the range of $5,000-100,000 in exchange for equity in start-ups.

It runs the accelerator programme in the US market as well.

Seed-stage deals nearly tripled in the first 10 months of 2015 from the previous year, according to VCCEdge, a data service by media firm VCCircle Network. Until 20 October, there were 24 seed-stage investments worth $12.6 million, up from nine such deals worth $2.8 million in the same period the previous year.

In February another early stage investment fund, Kae Capital said it raised $30 million from existing and new investors as part of its second fund. The firm will be raising an additional $10 million soon.

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