London-based venture capital company, JPIN has launched an India-focussed strategic fund, JPIN India Fund with a corpus of $20 Mn. The fund aims to back Indian startups and SMEs in the country and help scale their business globally.
The fund, which was raised in collaboration with Mastermind, is SEBI-registered Category 1 Alternative Investment Fund (AIF). It will be an industry-agnostic fund with a size of $13 Mn and $7 Mn as a greenshoe option.
Through this association, JPIN and Mastermind plan to boost Indian SMEs by providing them with equity funding.
Founded in 2019 by Gaurav Singh and Nayan Gala, JPIN backs startups across all stages and focuses on creating them into decacorns. It has a presence in seven countries including India, Africa, UAE, Israel, Singapore, the US and Europe.
As per the website, it has a portfolio of more than 30 startups including Zicon, Focalsun, Blusmart, Chemi Tech, and Expertrons, among others. It claims to have delivered two unicorns in the last two years.
It has made a syndicated investment of more than $170 Mn across portfolios. Currently, it has a nexus of more than 200 investors.
With the launch of the new fund, it will be focusing on more mature SME businesses in India.
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