Freecharge had just become the biggest strategic sale in the Indian startup world, after being picked up by Snapdeal Tandon, who also manages his family business in healthcare technology and electronics manufacturing, was formalising his personal investments with Shah under a venture fund called Whiteboard Capital . The firm starts with investments of about Rs 2 crore, which can increase up to Rs 8 crore in follow-on rounds. By working closely with founders, Whiteboard is looking to differentiate itself as a combination of incubator and an early-stage VC. The profile of the new members will be similar to entrepreneurs in residence.Some of the companies Whiteboard has been closely working with are social commerce platform Dealshare, premium innerwear brand Damensch, personalised celeb messaging platform Wysh and Generico. All these companies have managed to raise follow-on rounds from VCs, including Matrix Partners India, Falcon Edge, Omidyar and Lightbox Ventures.

Source: Economic Times December 08, 2019 05:26 UTC