Hyderabad-based advisory services firm Sathguru Management Consultants is raising an INR 673 crore ($100 million) fund that will invest mainly in companies in food and agriculture sectors across the country. The fund, christened as Food and Agriculture Fund, is also keen to raise more in future and prefers to invest in 12-14 sub-segments in food and agriculture sectors.
Online travel agent marketplace TravelTriangle has raised $10 million in Series B funding led by Singapore-based RB Investments. The funding round also saw participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners. The funding will be utilized to accelerate growth, expand operations and hire more employees.
InnerHour, an online psychological wellness platform, has raised $450,000 (nearly INR 3 crore) in its first round of funding from financial advisory firm Batlivala & Karani Securities, investment firm Venture Works and others. Run by Mumbai-based MindCrescent Wellness Ventures Pvt Ltd, InnerHour offers online counselling and therapy services on both mobile and desktop platforms.
Indian mobile handset brand, Micromax will reportedly set up an independent fund to invest in consumer Internet companies worldwide. The fund is expected to raise up to $100 Mn (INR 680 Cr).
Micromax will be the lead investor in the fund. The fund will invest in 10-12 startups with a $3 Mn-$5 Mn ticket-size. The new fund, Orbis Capital, is likely to raise money from private equity firms and pension funds, etc.
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Hyderabad-based consulting organisation Sathguru Management Consultants is raising $100 million to start an Innovation in Food and Agriculture Fund (IFAF) that will be managed by their fund management company Sathguru Catalyser Advisors. They plan to invest approximately $8 million each in 8 to 12 companies for a significant minority stake. The fund is on a lookout for companies that are engaged in adopting technology solutions to address complex issues impacting agriculture, food and nutrition in India, with the first deal expected to close by mid-2017.