Mela Ventures Announces its First Close

Gadget Galiyara Feature, Press Release, Tech News

  • Anchor investors include professionals with deep expertise in technology
  • First close of INR 130 Crores; with a target fund size of INR 200 Crores (including green shoe of INR 75 crores)
  • Targets to make 4-5 investments in the next 18 months with ticket size of INR 7-10 crores each
  • A record closure within 12 weeks of SEBI approval

BANGALORE, India, Aug. 24, 2020 /PRNewswire/ — Mela Ventures started by highly successful entrepreneurs, today announced the first closing of its maiden fund MV Core Tech Fund – I. The SEBI-approved Category-2 AIF fund for early stage companies, which targets for a INR 200 Crore fund size, has already garnered INR 130 crores in commitment from a coveted set of investors to mark its first close. The fund is backed by institutional investors, global technology leaders and seasoned start up investors.

Commenting on the first close, Krishnakumar Natarajan, Managing Partner, Mela Ventures, said:

“We are on a mission to build next-generation entrepreneurs out of India. Towards this mission, Mela Ventures will support early-stage companies using cutting edge technologies to build B2B solutions targeted at global enterprises. We are extremely excited to get such an overwhelming response from investors even during challenging times. This gives us confidence that we have a right mission and are here with the right strategy.”

Sharing his experience on the enthusiastic response on the approach of Mela Ventures, Parthasarathy N.S, Managing Partner, Mela Ventures, said:

“Entrepreneurs continue to innovate and solve impactful problems for large enterprises. And they realize that beyond the funds, they can immensely benefit by the Expertise, Experience and Empathy that we bring to the table. Many of our investors are technology professionals, who share the same passion as much as we do, for meaningful technology, startup community and building Indian entrepreneurs. We look forward to this new and exciting journey.”

About Mela Ventures

Mela Ventures Trust is a SEBI-approved AIF Category-2 fund for the early stage companies. With a goal to build next-gen entrepreneurs, the fund will focus on building a portfolio in areas, such as AI/ML, AR/VR, IoT, Cloud Migration and Deep Technologies. Mela Ventures was founded by Industry veterans, Krishnakumar Natarajan and Parthasarathy NS who have co-founded Mindtree and taken it from a startup to a multi-billion-dollar market cap enterprise.

Media Contact :

Kiran Mohan

marketing@melaventures.in 

Mela Ventures

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