YourNest Looks to Hatch Rs 300-cr Egg for Second Technology Fund

Firm will invest in robotics, blockchain and IoT startups

Investment firm YourNest Angel Fund aims to raise a larger corpus that will help the early-stage fund write larger cheques and also provide growth capital for portfolio companies.

The Gurgaon-based firm, which is awaiting regulatory approval for the new fund, plans to raise up to 300 crore. It currently invests from a 90-crore fund making seed and early-stage investments.

“The investment thesis is exactly the same as that of the earlier fund. We want to back technology and technologyenabled (ventures),” said Girish Shivani, executive director at YourNest. The firm is scouting for startups in the areas of robotics, blockchain and those which offer business applications based on the internet-of-things.

With a bigger war chest, the early-stage fund hopes to provide later-stage funding capital as well.”We want to be able to write cheques of up to $1 million in the first round, and stay longer and deeper,” said Shivani.

The fund, which has so far invested in some 16 companies, has “30% of the corpus in the first fund” still left to be deployed. This will be used for follow-on investments in portfolio companies.

YourNest has mostly backed startups that provide products and services to other businesses, having stayed away from consumer-focused ventures due to a “lack of differentiation” according to Shivani.

However, the fund is seeing a clear shift amongst founders to build product-based companies. YourNest still has a timeline of about four-five years in the first fund to return money to investors but expects exits (in the first fund) to begin in the next 18-24 months.

Source : The Economic Times (Delhi)

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Author:

Neeraj; an entrepreneur & a visionary in the field of Railway, Defense & Automobiles, is a graduate in commerce and a Harvard Business School Alumni. He’s an expert in govt. liasoning & contracting and has an exceptional network & connections at both local as well as global level. He’s an expert in Market Strategy & Planning and has served number of overseas companies as an advisor/consultant. He takes a profound interest in upcoming startups & is very receptive towards ground-breaking ideas & innovations. He likes to brainstorm those ideas and if the values & philosophies matches; he is even ready to invest his resources, serve as a mentor or act as an incubator to futuristic businesses.

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