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Tuesday, October 3, 2023

We Founder Circle launches Rs 400 crore fund for Indian startups

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We Founder Circle (WFC)  has launched a new fund for startups. The fund will have a target size of up to Rs 200 crore with a green shoe option of up to Rs 200 crore.

A Mumbai-based early-stage startup investment platform called We Founder Circle (WFC) announced on Thursday that it has started a Rs 400 billion “Invstt Trust” fund to increase early-stage startup funding in India. The fund’s maximum goal size would be Rs 200 crore, with a green shoe option of up to Rs 200 crore.

The We Founder Circle Global Angels Fund has also been established in GIFT City by WFC. An international fund called We Founder Circle Global Angels Fund seeks for investors from all across the world. The fund has a $30 million size, a $30 million green shoe option, a 7-year term, and a 2-year extension option.

Global Angels Fund is a sector-neutral investment vehicle that will allow investors from around the world to take advantage of possibilities everywhere, according to a statement from We Founder Circle.

It was also stated that although the fund is not sector-specific, it will primarily seek to invest in portfolio entities across a variety of industries, including supply chain, agritech, consumer/D2C, manufacturing, deep tech, financial technology, content gaming, industrial tech, retail tech, and others (logistics, healthcare, technology, agri-allied sectors, etc.)

In India, there are 84,102 recognised startups operating in 56 industries, including food production, biotechnology, and chemicals. Startup India was announced by the government on January 16, 2016.

According to Gaurav V. K. Singhvi, managing partner and investment manager for both the Fund and We Founder Circle Angel Accelerator, 42 businesses became unicorns in 2021, providing substantial returns for their early-stage investors.

This has prompted many HNIs to take part in angel projects, but the movement is still in its early stages and requires streamlining, as well as the proper guidance for entrepreneurs and investors.

In order to facilitate the process from the viewpoints of both angel investors and early-stage entrepreneurs, we planned for this fund to act as a catalyst.

He continued by saying that two to three years ago, it was all about startup mentorship and incubation. It is now clear that there is a need to improve capital flow, simplify it for HNIs to encourage successful outcomes, and close the gap between angel investors and business owners.

In addition to money access, the fund offers mentoring and networking assistance to companies with a focus on technology and links to international markets.

Although it may fluctuate for late-stage inflows, the business said that the average transaction size for early-stage startups has not been significantly affected. This indicates the growing interest of prospective angel investors in startup investments as asset-class financial instruments.

The Pre-Seed, Seed, and Series A rounds of startup capital will thus be funded by the Funds.  We Founder Circle’s co-founder and CEO, Neeraj Tyagi, stated that the funds are a logical continuation of their mission to bring more entrepreneurs and investors into the ecosystem’s mainstream.

This fund will enable the growing number of angel investors to make investments in a framework that is supervised by rules and compliance. We have been building the community on both ends.

Within the next 24 months, we hope to attract more than 1,000 angel investors who will fund 200 entrepreneurs.

We Founder Circle was founded in October 2020, and according to the business, during the last 23 months, it has mentored and invested in over 70 businesses at various stages.

Funds will help business owners prepare for further phases of development. 

The new fund’s launch is consistent with WFC’s goal to support 500 companies in five years.

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