ThinKuvate, an angel investment network based in Singapore, has acquired a SEBI license to launch its inaugural India-focused fund with a corpus of INR 100 Cr. The fund’s primary objective is to invest in early-stage tech startups ranging from seed to pre-Series A stages across various sectors.
To kickstart its fundraising endeavors, ThinKuvate will conduct a series of investor-centric roadshows in Nagpur, Raipur, Bengaluru, and Chennai. The first close of the fund is anticipated to occur within the current quarter.
Founded by Nagpur University alumni Ghanshyam Ahuja, Ritesh Toshniwal, and Vikas Saxena, the fund has recently welcomed Mayank Jain as the CEO. Established in 2015 with an initial pooled corpus of $1.5 Mn by a group of close friends keen on angel investing, ThinKuvate has been actively investing in India and Southeast Asia for the past seven years. The network has expanded to include over 150 mid to senior professional NRIs.
Ritesh Toshniwal, a founding partner of ThinKuvate, emphasized the network’s strong connection to India and its understanding of the market, which naturally drives investments in the Indian ecosystem. Leveraging this network, the fund aims to provide additional support to its portfolio companies through mentorship, technology assistance, restructuring, go-to-market strategies, business development, and more.
ThinKuvate is actively seeking participation from India-based HNIs and family offices as Limited Partners (LPs), targeting a capital mix of 60% overseas and 40% local investments. With a current portfolio of 22 startups, including successful investments like CureSkin, Vidyakul, and QubeHealth, the fund plans to invest up to INR 3 Cr in each startup, targeting 12-15 investments annually.
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