IDG Ventures India Plans to Fund 25 Tech Startups
IDG Ventures India is a leading ($150 Million) technology venture capital fund firm in India.
The leading player in the Venture capital market of India, IDG Ventures India Ltd has come up with Digital Consumer Innovators Program in order to hunt 15-25 new consumer-facing Internet startups and later, invest in them. IDG Ventures is looking to invest in startups like mobile-first shopping apps, digital media, software providers for Internet companies and others. It has plans to invest $500,000 to $1 million as seed funding and then, $3-$5 million in Series A round of funding. Besides all this, IDG Ventures is all set to pour money in around 25 tech startups by the end of 2016.
The firm will also act as a helping hand to few startups to hire and plan strategies with the guidance of IDG’s advisory panel of Mukesh Bansal, founder and ex-chief executive of online fashion retailer Myntra, Ratan Tata; and Infosys Ltd co-founder ,Kris Gopalakrishnan.
In the next three years, IDG looks forward to raise its third fund of $200 million and plans to invest in about 45 startups. Its portfolio includes Flipkart Ltd, Lenskart, Firstcry, Myntra, Manthan Systems, Ozone Media, 3D Solid Compression, Aujas Networks, ConnectM, iViZ, Kreeda Games, Perfint and Zivame among others. Currently, IDG Ventures operates in Bangalore and Mumbai.
Few days back, IDG Ventures India has led the Series A funding round Health and fitness app HealthifyMe by $6 million, along with participation from Inventus Capital and Blume Ventures. In February 2016, Kalaari Capital also had launched a startup accelerator called ‘Kstart’.
- IDG Ventures is looking to invest in startups like mobile-first shopping apps, digital media, software providers for Internet companies and others.
- It has plans to invest $500,000 to $1 million as seed funding and then, $3-$5 million in Series A round of funding.