February 26, 2021: FundVice, a hybrid of investment banking and start-up acceleration, has announced an all-inclusive $11 million venture capital in India. The new fund, Ryoma Ventures, will be a true sector-agnostic fund with a focus on revenue generating start-ups no matter what stage they are in.
The company plans to close this fund soon with its present investors and is also looking at collaborations with other investors and funds.
FundVice has said that henceforth, it will be investing only in future dragons and unicorns and is planning to create unicorns and dragons by structuring them wisely.
Commenting on the announcement, Ms. Heena Aroora, Managing Director, FundVice and Ryoma Ventures said, “We have seen exciting start-ups that are revenue generating but what they lack is the right support of investors. Various incubators, accelerators and mentors that have been supporting the team of FundVice to support start-ups reach the heights they are at, but still lack investors. To support them, we took the decision to start this fund, with support of everyone, as the next step towards making a dent in the start-up ecosystem.”
In recent times, FundVice has tried to bring in a change in the whole ecosystem by not only raising funds of over Rs. 60 Crore in a year for start-ups, but also by providing mentorship and curation. \
FundVice is planning to raise over Rs.150 crore after curating start-ups which shall be live in the market soon. By the end of 2021, the company plans to raise over Rs.250 crore and accelerate at least 50 deals.
Recently, FundVice orchestrated the seed round for India’s first clean beauty marketplace Vanity Wagon and the company plans to replicate its success with more fruitful investments in the future.