New Delhi, March 27, 2015: US-based venture capital fund Peesh Venture Capital (PVC) has announced a venture capital fund, PVCII, of US $50 million for early-stage investments in India, especially those in the Internet of Things (IoT) and mobile space.
PVC said its focus was on funding and nurturing entrepreneurs and disruptive technologies. It said in a written statement that the new India fund would “nurture Indian entrepreneurship and focus on collaborative, long-term relationships with enterprises”, supporting them from the earliest stages of business development through successful exit, and beyond.
Apart from the funding capital, the PVC portfolio companies will be able to leverage its operating experience, thought leadership, and deep global network of relationships across this range of high-value sectors.
Those startups working with the PVC Accelerator programme will also be able to avail financial, strategic, technical and operational mentorship, located in Bangalore and Gurgaon. Typically, PVC invests from US $100,000 to US $5,000,000 from PVC II in exchange for equity in growth stage companies that fit PVC’s investment criterion. PVC Accelerators, on the other hand, invest US $5,000-US $100,000 in exchange for equity in startups that fit PVC’s investment criterion.
According to Peesh Chopra, Managing Director, Peesh Venture Capital, India had emerged as one of the most promising entrepreneurial landscapes globally. In the last 5 years, India had seen a rise of companies of global potential and acquisitions by global internet giants. This was indicative of the innovative technologies that the entrepreneurs were capable of, he added .
The fund has a strong network of investors and mentors with expertise across a broad range of sectors including advanced machine and intelligence, aerospace & transportation, analytics & software, biotechnology & health, and consumer internet & media.
The PVC Accelerators are always on the lookout for startups from across the sectors like Ad Tech, e-commerce, Social Media, Gaming, Education, Mobile Apps, Enterprise Software, Wearables, and IoT.
Image Credit: PVC
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