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India-focused early-stage venture capital fund, Riverwalk Holdings has said, “It has set up Rs 150 crore fund to support early-stage startups working in SaaS, Fintech, Consumer-tech, and in Consumer brands.”
The Fund is anchored by the Singapore-based, Thakral Group and has been backed by leading business houses across India and Singapore.
The fund will invest up to Rs 10 crore per startup and has already made 4 investments. Riverwalk’s portfolio includes AI-based contract automation startup, Spotdraft; one-stop Ayurveda platform, The Ayurveda Experience; community & commerce platform for parents, Mylo; and housing finance platform, Homeville. Riverwalk aims to deploy the fund within 18-months.
Riverwalk is led by managers with over 10 years of investing experience across 100+ startups in India, South East Asia, and the USA. Past investments include the IPO-bound branded pharmacy chain, Wellness Forever; AI-based AML platform, backed by Standard Chartered Ventures and HSBC Ventures, Silent Eight; e-commerce SaaS platform, Anchanto; and consumer intelligence platform, Mobilewalla.
The team has had notable exits such as Karza Technologies, which has been acquired by Perfios for INR 600 crore; Dropsuite (ASX: DSE); LogiNext; Wigzo, acquired by Shiprocket; nCinga; and LBB.
Speaking on the development, Satveer Singh Thakral, Founding Partner, Riverwalk said, “The founding principles of Riverwalk have been shaped by the Thakral Group’s 117-year legacy of building successful businesses based on long term partnerships. 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.”
In addition to its founder-first mandate, “Riverwalk will leverage its stakeholder network to accelerate the growth of startups by providing access to leading enterprises across Asia” added Satveer.
“We are looking to partner with founders who are focused 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,” Jai Sumer Singh, Founding Partner, Riverwalk further added.