Real Time Angel Fund (RTAF) on Wednesday announced the launch of its debut fund worth $12 million while SphitiCap has also launched its maiden venture fund with a total corpus of $500 million.
RTAF launches $12m fund
Sector-agnostic, SEBI-registered angel fund Real Time Angel Fund (RTAF) on Wednesday announced the launch of its debut fund worth Rs 100 crore ($12 million). The fund has made its first investment in MyMandi, a Gwalior-based B2B marketplace for cart-pushers.
MyMandi’s Rs 4-crore seed round also saw participation from LetsVenture and other angel investors, RTAF said in a statement. The startup will use the funds in building technology and distribution strength in supporting the cart-pusher community.
Meanwhile, RTAF will be investing Rs 1 crore per startup over the next five years with a focus on technology companies at the pre-seed and pre-series stages. The fund received its SEBI licence in July and marked its first close on August 14.
To make angel investments simplified and transparent, RTAF will be launching its mobile app platform for angel investors on January 26, 2023.
SphitiCap floats $500m fund
Led by experienced venture capitalists Pallav Kumar Singh and Mayank Mehra, SphitiCap has launched its maiden venture fund with a total corpus of $500 million and is going to close it soon.
The founder-focused, early-stage venture capital fund is currently investing in cleantech, fintech, deeptech, agritech, proptech, SaaS, digital media, D2C, spacetech, defence, and logistics and supply chain.
“With innovative ideas being birthed across the country, especially with tech at the centre, there is a growing need for funds that can enable entrepreneurs from beyond the metros. Currently, our portfolio pipeline has funding up to $15 million with no upper limit. There are a lot of promising startups that we are vetting and excited about working with,” said Mayank Mehra, managing partner at SphitiCap.