Veteran angel investor Sashi Reddi has launched his first technology-focused early-stage venture capital fund. It is unusual for an entrepreneur to launch such a massive fund. SRI Capital Fund-I, a Delaware-registered, $100-million (about Rs 688 crore) investment vehicle will invest specifically in startups working in the emerging areas of deep tech.
We focus on deep tech because if there is one sector that absolutely needs US market access, it is that,” Reddi told ET in an interview. “Given our extensive network and relationships with CTOs and CEOs of large companies in the US, we can provide an immediate opportunity for startups to prove out their tech with buyers and partners quickly.”
“It’s rare for entrepreneurs to set up their own funds, and this will, hopefully, lead to others doing the same. Additionally, this may also start a trend where we could see greater corporate VC action by promoter-backed companies in India,” said Mahendra Swarup, founder, Venture Gurukool.
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SRI Capital Fund-I, which counts a number of family offices and high networth individuals as limited partners, will look to invest at a pre-Series A stage, putting in $1-3 million, and going up to $5 million in select ventures.
South Asia OTT content provider YuppTV and online budget hotel aggregator FabHotels are a part of Reddy’s portfolio.