The world's third-largest startup ecosystem, India?has become home to thousands of booming startups across the country. And the popular show Shark Tank India further proved to add fuel to the rising aspirations of budding entrepreneurs in India.?
Even India's Minister of Commerce & Industry Mr Piyush Goyal yesterday said that the country aspires to become the largest startup ecosystem in the world.
And the latest step toward this aim seems to be the recent creation of?the Bharat Founders Fund (BFF).
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Given that a lot can go wrong with startups in the initial stages itself, from running out of cash, flawed business model, misreading the market and competition and even fallout between the team and investors, this fund can prevent or come to the rescue of such startups as well.
So, to enable all this, along with the right guidance for entrepreneurs and startups, Over 50 startup founders and senior leaders, who have been there and done that, have come together to create this Bharat Founders Fund. These Indian entrepreneurs are seeking to turn into investors and mentors for the next generation of entrepreneurs in India.
The fund has reportedly started with a corpus of $20 million?and has already made 20 investments, aiming to invest in 100 companies every year.
It will typically invest $100,000 to $200,000 on average in various early-stage startups and companies which are still at the idea stage.
The fund is being managed by Investopad partners Maanav Sagar and Sera Arora.
BFF¡¯s current portfolio includes learning platform Yellow Class, jobs platform Skillbee, lending startup Basic, and direct-to-consumer brand BlissClub, among others, as per ET.
Among the founders who are investing through Bharat Founders Fund, are Vidit Aatrey and Sanjeev Barnwal, co-founders of Meesho; Gazal Kalra, cofounder of Rivigo; Cars24 co-founders Vikram Chopra, Mehul Agrawal and Gajendra Jangid; Smita Deorah and Sumeet Mehta of Lead School; Vamsi Krishna, co-founder of Vedantu; and Saurabh Garg, co-founder of NoBroker.
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