The ThinKuvate team
Singapore-based early-stage startup investment firm ThinKuvate has launched its first India-focused fund with a total corpus of INR 100 crore (US$12 million)
ThinKuvate India Fund will look to invest in 12 to 15 startups annually across different tech verticals with an initial amount of up to INR 3 crore (US$360,000).
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The fund prefers to invest in revenue-generating product startups that have built early traction and market acceptance.
The investment vehicle has received the approval of the Indian market regulator SEBI. It expects to hit the first close within this quarter.
ThinKuvate Founding Partner Ritesh Toshniwal said: “Over the last seven years, we have built a strong portfolio of over 22 companies in India and Southeast Asia. Our understanding of both the markets puts us in a unique position of facilitating international LPs’ growing interest in India.”
“From our existing portfolio, we have already invested in Indian startups and the performance of these companies coupled with macros of the Indian economy, growing investors’ interest played a crucial role in ThinKuvate launching an exclusive India fund,” he added.
According to Partner Addison Appu, ThinKuvate is already evaluating several startups and is in the advanced stages of discussions with them. “The surge in digital adoption and conducive policy environment has led to the emergence of products and technologies from India with a “glocal” approach, blending global perspectives with local relevance. Drawing from our experience in mentoring and advising startups, we recognise the potential to extend the India playbook to Southeast Asia.”
Founded by Toshniwal, Ghanshyam Ahuja, and Vikas Saxena, ThinKuvate primarily invests in B2B and B2B2C startups across various sectors, including healthtech, fintech, IoT, AI-ML, consumer-tech, and martech. It participates in seed, angel, and pre-Series A rounds to support promising startups in their early stages of development.
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Initially investing approximately US$1.5 million in nine startups in Southeast Asia and India, ThinKuvate Ventures has since facilitated investments totalling US$5 million in 22 regional startups. It has two exits thus far, with one portfolio company listing on the Australian Stock Exchange.
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