Revenue-based financing platform Klub has announced the final close of its $25-million (Rs 200 crore) maiden fund, Acelere8. Separately, MSA Novo has announced a portfolio of six Indian startups it has invested in.
Klub announces final close of maiden fund
Sequoia’s Surge-backed Klub has announced the final close of its $25-million (Rs 200 crore) maiden fund, Acelere8.
Acelere8 was launched in December last year and has invested in about 33 companies to date, including BluSmart, Ben Franklin, Bewakoof, Furlenco and SMOOR Chocolates, among others.
The fund invests capital ranging from Rs 5 lakh to Rs 30 crore in businesses for a tenure of up to 24 months.
The first close was announced in December 2021. The firm claims to have disbursed 30% of its total value.
MSA Novo invests in 6 Indian startups
MSA Novo, a multi-stage global venture capital fund investing in companies in emerging markets, has announced a portfolio of six Indian startups it has invested in.
MSA Novo has invested in startups such as MPL, Slice, Jar, Apps For Bharat, Flint and Questbook, focusing on early- and growth-stage tech-enabled startups. Along with an initial investment of more than $15 million, the global VC plans to inject more funds into the Indian startup ecosystem by the end of FY23.
The global fund has a portfolio of over 50 companies, including NuBank and Xeplin of Latin America; TradeDepot and Nestcoin in Sub-Saharan Africa; and Kitopi, Tabby, and Cassbana in the MENA region. The firm’s sector focus is concentrated on core infrastructure layers in financial services and commerce enablers.