VC firm Blinc to invest Rs 100 Cr in six Indian startups

Venture capital firm Blinc Invest is looking to operationalize a Rs 100-crore Sebi-approved fund, which it will invest in six startups over the next two to three years. 

The firm has requested the market regulator for the permission of the fund and raised Rs 30 crore in funding, Blinc founder and Managing Director Amit Ratanpal stated. 

He further added, “We have closed raising of Rs 30 crore and expect to operationalize the entire Rs 100 crore in next six to seven months. We will focus on investing in financial and education technology companies.”

This is the second corpus that the venture capital firm has declared which it intends to invest in solely a total of six startups. 

“We have had more than five times return on investment under Blinc portfolio 1, which we invested from our balance sheet. We are about to exit from the fourth and last venture with 7-8 times return in which we invested under Blinc 1.”

“Under Blinc 2, we will keep our portfolio focussed towards fintech and edtech companies. We will invest in 5-7 companies, ideally six companies, in the next two to three years,” Ratanpal said. 

Blinc is planning to invest Rs 100 crore in startups that have a revenue of a minimum of Rs. 1-2 crore, and its product is operational. 

Ratanpal stated Blinc 2 has already allocated Rs 30 crore investment that it has raised.

“We are also looking at digital and neo banks. We are closely watching development in this space,” Ratanpal said. 

Previously, in 2018, Mumbai-based Eduvanz Financing Pvt. Ltd, which grants loans for skill development, had raised $500,000 in an angel round of funding led by venture capital firm BLinC Management Advisors Pvt. Ltd. 

Eduvanz employs proprietary AI-based algorithms and predictive analytics to examine financial and socio-economic data to make lending more effortless. It further stated that it will utilize the funds to strengthen its loan appraisal technology and scale its operations across the country.

The announcement comes as great news for emerging Indian Startups and would immensely help them in scaling their business.

Shishir Gupta, Founder and CEO, StartupLanes

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