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ThinKuvate, Based in Singapore, Unveils Rs 100 Crore Investment Fund for Startups in India

Banner image for Thinkuvate, featuring six team members standing around a small, round table with a plant in the center. The team, consisting of five men and one woman, are dressed in black polo shirts and smiling confidently. The background is a bold red with the Thinkuvate logo in the upper left corner, which includes the words 'THINK • INNOVATE • INCUBATE' alongside a colorful graphic.
By
Anurag Trivedi

ThinKuvate, a Singapore-based angel investment network, announced the launch of its new India-centric fund, ThinKuvate India Fund – I, on Tuesday. The fund, with a corpus of Rs 100 crore, is set to invest up to Rs 3 crore in technology startups across various sectors annually. It plans to target 12-15 startups each year, focusing initially on emerging hubs in Nagpur, Raipur, Bangalore, and Chennai.

Ritesh Toshniwal, Founding Partner at ThinKuvate, highlighted the firm’s extensive experience, noting, "Having built a strong portfolio of over 22 companies in India and Southeast Asia over the past seven years, we are well-positioned to support international LPs looking to invest in India."

The decision to launch this dedicated India fund was influenced by the successful performance of its existing Indian investments and the positive economic trends in the country, which have sparked increasing interest from investors.

ThinKuvate, boasting nearly 200 investors, anticipates the first close of this new fund within the current quarter and aims to start deploying capital in the following quarter. The firm has made notable exits, including one portfolio company's listing on the Australian Stock Exchange, and nearly 40% of its portfolio companies have secured subsequent funding rounds.

Addison Appu, Partner at ThinKuvate, mentioned, "Our engagement in India, starting from 2016, has given us deep insights into the market’s vast potential. We are actively discussing potential investments with several startups."

The fund will prioritize revenue-generating startups that show early market traction and acceptance, with a preference for those holding patented products and founded by teams of two or more.

Beyond its core focus, ThinKuvate has invested around $1.5 million in nine startups across Southeast Asia and India, and has facilitated $5 million in investments across 22 startups, with a focus on B2B and B2B2C sectors including health-tech, fintech, IoT, AI-ML, consumer-tech, and martech. ThinKuvate also operates across the UK, Middle East, Latin America, Australia, and the USA.