Investment firm Soonicorn Ventures on Tuesday received SEBI’s approval to introduce an alternate investment fund with a corpus of Rs 250 crore. The newly approved angel fund will have an additional Rs 250 crore available as a green-shoe option, bringing the total fund capacity to Rs 500 crore, the firm said in a statement.
The platform has been investing in promising sectors such as Drone Technology, B2B SaaS, Electric Vehicles (EV), Financial Technology (FinTech), Supply Chain Logistics, and others.
Soonicorn Ventures’ portfolio of startups includes Zypp, Zingbus, Samosa Party, SupplyNote, AutoNxt, etc.
“The newly approved Angel Fund is sized at an impressive Rs 250 crore, with an additional Rs 250 crore available as a green-shoe option, bringing the total fund capacity to Rs 500 crore. This substantial allocation underscores SV’s commitment to nurturing and empowering early-stage startups in India,” the company said in a statement.
Soonicorn Ventures CEO and co-founder, CA Vijay Singh Rathore, said that the firm has an ambitious target to build a portfolio of 30 startups this year.
Categories: Other News
Leave a ReplyCancel reply