Riverwalk Holdings said on Thursday that it launched a 150 crore initial stage venture capital fund to invest in consumer brands, software-as-a-service (SaaS), fintech and consumer tech startups from seed to Series A stage.
The fund said it would invest up to 10 crore in each startup and have already invested four.
India-focused Riverwalk is operated by the Thakral Group and counts major business houses from India and Singapore as its investors.
The fund’s portfolio includes AI-based contract automation startup Spotdraft; Ayurveda Forum Ayurveda Experience; Community and commerce platform for parent Mylo and housing finance platform HomeVille.
“The founding principles of Riverwalk are shaped by the 117-year legacy of the Thakral Group to build successful businesses based on long-term partnerships. The life cycle of a startup has its ups and downs and we are committed to be supportive throughout the journey,” said Satveer Singh Thakral, founding partner, Riverwalk.
“Riverwalk will leverage its stakeholder network to accelerate the growth of startups by providing access to leading enterprises across Asia,” he added.
“We look forward to partnering with founders who are fundamentally focused on building strong and capital efficient businesses. This philosophy has worked well for us in the past and we are focused on replicating it, Jai Sumer Singh, founding partner of Riverwalk said.
Riverwalk has previously supported startups such as Wellness Forever, AML Platform, Silent Eight, Enchanto and Mobilewala.
Last month, VCCircle reported that Riverwalk Holdings was one of the investors that helped direct-to-consumer (D2C) mother and baby platform Mylo raise $17 million (approximately). 129 cr) in a Series B round.
In early February, Disruptors Capital launched a 120 crore early stage venture capital fund to invest in tech startups in India, Southeast Asia and the US.