Riverwalk launches Rs 150 cr fund to back early-stage startups

Riverwalk Holdings announced the formation of a Rs 150 crore early-stage venture capital fund on Thursday. The fund will invest in consumer brands, software-as-a-service (SaaS), fintech, and consumer tech firms from seed to Series A.

The fund stated that each firm will receive up to Rs 10 crore in funding and that it has already made four investments.

India-focussed The Thakral Group is the anchor of Riverwalk, which has important Indian and Singaporean commercial houses as investors.

Spotdraf, an AI-based contract automation firm; The Ayurvedic Experience, an Ayurveda platform; Mylo, a community and commerce platform for parents; and Homeville, a home financing platform, are among the fund’s investments.

“The Thakral Group’s 117-year record of developing successful businesses based on long-term relationships has formed the fundamental ideas of Riverwalk.” “We are devoted to being helpful throughout the path of a startup’s life cycle,” stated Satveer Singh Thakral, Founding Partner at Riverwalk.

“Riverwalk will use its stakeholder network to help startups expand faster by connecting them with major businesses across Asia,” he added.

“We’re searching for founders that are committed to establishing businesses that are fundamentally sound and capital efficient.” “This strategy has worked successfully for us in the past, and now all we have to do is replicate it,” said Jai Sumer Singh, Riverwalk’s Founding Partner.

Wellness Forever, AML Platform, Silent Eight, Anchanto, and Mobilewalla are among the firms that Riverwalk has previously sponsored.

Riverwalk Holdings was one of the investors who helped direct-to-consumer (D2C) mother and baby platform Mylo collect $17 million (about Rs 129 crore) in a Series B transaction, according to VCCircle. Disruptors Capital announced a Rs 120 crore early-stage venture capital fund in February to invest in Internet businesses in India, Southeast Asia, and the United States.

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Sharanya Sinha

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