Zone Startups India joins country's VC funding club
    Zone Startups India joins country's VC funding club - Economic Times
    The Zone Startups India Fund has a corpus of Rs 190 crore and has been backed by Toronto-based Ryerson Futures, the investment arm of Ryerson University and the Chokhani Family office.

    The latest to join the club of new early-stage venture capital funds is private accelerator Zone Startups India The Zone Startups India Fund has a corpus of Rs 190 crore and has been backed by Toronto-based Ryerson Futures, the technology accelerator and investment arm of Ryerson University and the Chokhani Family office.“We are looking at raising the remaining capital largely from Indian institutional accounts.While the fund will conduct deals with ticket sizes ranging from Rs 50 lakh to Rs 3 crore, the sectoral preference will remain core technology.“We will largely train our focus on software companies with an eye on mobile technology and enterprise tech,“ said Ramasubramaniam.Experts and investors believe that the tide is set to turn as the exit scenario in India's unicorns brings back investors' lost faith in the startup ecosystem.Beyond its micro venture capital fund, Zone Startups India has also received a grant of Rs 10 crore from the government's Department of Science and Technology to invest in 10-15 companies that are part of its accelerator programme over the next year.“The grant would be used for very early-stage companies that are part of our accelerator, so the ticket sizes would span from Rs 30 lakh to Rs 1 crore,“ said Ramasubramaniam.The ministry’s grant is the first such move made by the government for a private accelerator in India.

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