A Mumbai-based venture debt marketplace is in the midst of setting up an Alternate Investment Fund ( AIF ) in India and raise USD 90 million for funding 100 startups in 10 countries as well as opening a Singapore office. "The AIF, a private equity fund in India, will raise money from Indian investors for the Indian companies," Mumbai-based 8vdx founder Ravi Chachra said on the sidelines of Singapore Fintech Festival. This would support startups to progress on with their products and build a fund-raising strategy. "We are a startup for the startups," he said of the 8vdx which was established in 2021 after he exited his investments with major venture capital groups. "Our vision for the next 24 months is to lend 100 startups across 10 countries US$100 million, with 10-15 per cent of that going to Singapore startups.

Source: Economic Times November 07, 2022 01:53 UTC