New Delhi, Apr 18 (PTI) Venture capital firm Blinc Invest expects to operationalise a Rs 100-crore Sebi-approved fund which it plans to invest in six start-ups in the next 2-3 years.
The firm has approached Sebi for the approval of the fund and raised Rs 30 crore in funding, Blinc founder and Managing Director Amit Ratanpal told PTI.
'We have closed raising of Rs 30 crore and expect to operationalise the entire Rs 100 crore in next 6-7 months. We will focus on investing in financial and education technology companies,' Ratanpal said.
This is the second corpus that Blinc Invest has announced which it plans to invest in only a total of six start-ups.
'We have had more than 5 times return on investment under Blinc portfolio 1, which we invested from our balance sheet. We are about to exit from the fourth and last venture with 7-8 times return in which we invested under Blinc 1.
'Under Blinc 2, we will keep our portfolio focussed towards fintech and edutech companies. We will invest in 5-7 companies, ideally six companies in the next 2-3 years,' Ratanpal said.
Blinc will invest Rs 100 crore in start-ups that have revenue of at least Rs 1-2 crore, and its product is operational.
Ratanpal said Blinc 2 has already received commitments for over Rs 30 crore from investors.
'We are also looking at digital and neo banks. We are closely watching development in this space,' Ratanpal said. PTI PRS HRS hrs