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Investopad founders open $25 million Good Capital fund

The development comes even as a number of marquee investors, such have launched their seed-stage investment vehicles, at a time when early-stage financing for India’s startup ecosystem has dipped.

, ET Bureau|
Sep 09, 2019, 08.21 AM IST
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Sector-agnostic fund makes first close at $12 million, to back B2B & B2C firms.
NEW DELHI: The founders of seed-stage incubator Investopad have launched their maiden fund, the $25 million (about Rs 180 crore) sector-agnostic Good Capital, that will invest in the pre-seed to Series-A funding rounds.

Good Capital has made its first close at $12 million, and counts strategic investment company Symphony International Holdings as one of its anchor investors. The Mauritius-registered fund has also onboarded a number of European family offices and Silicon Valley-based entrepreneurs, including Sunny Madra, cofounder of Autonomic, among its list of limited partners.

“Good Capital gives us the opportunity to provide meaningful capital and access to the companies that we are backing. We are thrilled to bring on some of the best-in-class institutional investment firms and Silicon Valley entrepreneurs to be a part of the early-stage opportunity in India,” Rohan Malhotra, managing partner at Good Capital, said.

The development comes even as a number of marquee investors, such as Sequoia Capital, have launched their seed-stage investment vehicles, at a time when early-stage financing for India’s startup ecosystem has dipped.

In April, ET was the first to report that Sequoia Capital was in the process of raising its first seed fund in India with a target corpus of $150-200 million. More recently, Flipkart also announced a fund to back early-stage startups to seed innovation in areas related to ecommerce ecosystem.

“Conventionally, funds have targeted the top of the pyramid by exploring visible opportunities and replicated US companies and models. In contrast, Good Capital’s first principles thinking applied to India’s larger economy, which is coming online at scale with a supporting ecosystem for the first time, has been refreshing to see,” Dinesh Moorjani, MD at Comcast Ventures and cofounder, Tinder, said.

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