“More than the fund, we are glad to receive the strategic value and operational expertise that the people behind this fund can provide us,“ said Pavan Thatha, cofounder of Shield Square that helps companies secure their portals from cyber criminals.
Balakrishnan, the former Infosys finance chief who is also the chairman of StartupXseed, said the fund has brought in a networked incubator programme as well as international relationships and tie-ups for follow-on funding “to ensure our investee companies seamlessly graduate to the next level“.
The fund aims to exit between 18 and 24 months after investing in a startup.
To ensure infrastructure for the ventures it funds, StartupXseed has signed a memorandum of understanding with the incubation centre at the Bengaluru-based International Institute of Information Technology. It is in talks with universities in Israel, Taiwan, the UK and Germany for collaborations. Managing Partner Naidu said StartupXseed will take up the role of both an incubator and a funding institution by not only investing, but mentoring and working along with the startups. “Our partners will go with them for their sale-pitches and help them with their business plans,“ he said.
Pai said this was their attempt to get Indian money into India’s most promising sector. Pai, who jested about the team consisting of old people, said: “It is good in a way to have some grey hair, because when we go and knock on the doors of people to assist the startups, they will meet.“