New Delhi: Seed-fund provider 5ideas aims to work with 40 technology start-up ventures in the next three years and assist budding entrepreneurs in "scaling their businesses". (Agencies)
Founded by Fashionandyou.com co-founder Pearl Uppal and dealsandyou.com co-founder Gaurav Kachru, the firm is in the process of raising USD 10 million (nearly Rs 54 crore. "A significant amount has already been raised," Kachru said.
"We plan to launch several initiatives under 5ideas to invest a balanced combination of financial capital, human capital (people, experience and expertise) and social capital (business networks, ability to source talent) to help start ups take it to the next level," Kachru said.
5ideas will invest anywhere between Rs 50 lakh and Rs 2.5 crore in a startup and will become their operating partners, working with them for about six to 12 months.
At one go, the firm will work with up to six startups. The company expects to start with the first batch of start up in January next year.
"We are targeting to work with 40 start ups in the next 3 years," Uppal added.
5ideas will also provide access to "experienced mentors and valuable industry connections", Kachru said, adding that the company at present has 25 mentors on board and plans to up the number to 50.
"We have mentors, who are experts from various fields, guiding founders in their individual capacity." Uppal added.
Some of the mentors include, Mahesh Narayanan and Nikhil Rungta from Google, Shantanu Sirohi from Interactive Avenues, Sanjay Kadaveru from Action For India.
New Delhi: Seed-fund provider 5ideas aims to work with 40 technology start-up ventures in the next three years and assist budding entrepreneurs in "scaling their businesses".