Venture capital fund, Riverwalk Holdings has announced the launch of an early-stage, India-focused fund of Rs 150 crores. The fund, over the course of 18 months, will invest in sectors such as Enterprise SaaS, Consumer-tech, Consumer brands, and Fintech. Each start-up in the mentioned sectors will get Rs 10 crore, as pledged by Riverwalk.
The venture capital fund is led by Thakral Group, a Singapore-based company, along with the backing of multiple leading business houses across Singapore and India. Riverwalk announced that the venture capital fund has already invested in four start-ups – Spotdraft, an AI-based contract automation start-up; The Ayurveda Experience, a one-stop Ayurveda platform; Mylo, a parent-centric commerce and community platform; and Homeville, a housing finance platform. Riverwalk will escort the start-ups along with the journey seed to Series A funding.
“We are looking to partner with founders who focus on building fundamentally strong and capital efficient businesses. This philosophy has worked out well for us in the past and we are just focused on replicating it,” said Riverwalk founding partner, Jai Sumer Singh, in a statement.
Riverwalk had some successful investments in the past. Their portfolio includes Wellness Forever, an IPO-bound branded pharmacy chain; Anchanto, e-commerce SaaS platform; and Silent Eight, an AI-based AML platform backed by HSBC and Standard Chartered ventures. In addition to these, the venture fund has invested in more than 100 start-ups across South-east Asia, India, and the United States of America, as per the press release.
The venture capital, led by managers with over ten years of experience in investing, also had some notable exits such as LogiNext, cCinga, LBB, Dropsuite, and Kazra Technologies. Talking about the ideology and the foundational principles of the venture, Satveer Singh, founding partner of the fund, credited the 117 years of Thakral Group’s legacy of building successful businesses on “long term partnerships.”
He added, “The lifecycle of a start-up has its ups and downs and we are committed to being supportive throughout the journey. We are grateful to have like-minded investors who also share our investment philosophy.” Satveer also pointed out that Riverwalk will not only invest but also provide the start-ups with its stakeholder network to “accelerate the growth.”