UK (Commonwealth Union)_ A Rs 100 crore fund has been created by venture capital company Silverneedle Ventures, which has announced aspirations to invest in 30 firms over the next 18 months. The fund was established by Xseed Partners’ co-founders Ajay Jain and Deepesh Agarwal, and it received approval from market regulator Securities and Exchange Board of India (SEBI) in August.
“In the upcoming 18 months, we will invest in 30 businesses and assist them until they exit, which is typically 3-5 years for a solid exit. The fund would seek to invest between Rs. 1 to Rs. 6 crore each deal” Ajay Jain, co-founder and managing partner of Silverneedle Ventures, stated in a statement. In a creator monetization platform called Knorish, Silverneedle Ventures (SNV) contributed the initial investment of an unknown sum of money. Andrew Holland, Bharat Serum Family Office, IPV, Mumbai Angels, and Jet Synthesys, among other notable investors, supported the investment round.
In order to spend the money, Knorish plans to hire additional artists, extend its firm into other markets, and use the remaining money to improve its technological prowess. The firm now employs 32 individuals throughout the fields of technology, sales, customer success, content creation, and marketing added the statement. The SNV fund intends to invest primarily in businesses with a focus on direct-to-customer (D2C), deep technology, sustainability, and consumer internet. We established Silverneedle Ventures with a very strong and varied staff, offering experience in key elements of the Startup business model, following the success of Xseed Partners. In order to put each firm on a development trajectory, Jain added, “With our mentor-driven model approach, we will appoint segment-specific specialists throughout the globe, for the portfolio.” Andrew Holland, Bharat Serum Family Office, IPV, Mumbai Angels, and Jet Synthesys, among other prominent investors, supported the investment round
