Angel investment firm ThinKuvate announces first close of its India Fund at Rs 25 crore

ThinKuvate, a Singapore-headquartered angel investment platform, has announced the first close of its Rs 100 crore India fund at Rs 25 crore.

ThinKuvate India Fund—I reached this milestone within four months of its formal launch. As per the statement, the fund has already invested in four high-growth startups.

Focus on early-stage startups

The firm aims to invest in early-stage startups, ranging from Seed to Series A rounds, with a focus on technology-driven companies.

Taking a sector-agnostic approach, ThinKuvate emphasizes founders with complementary skills, a clear path to profitability, and scalable business models. The platform plans to co-invest alongside leading venture capital firms and family offices, ensuring strong support for its portfolio companies as they expand.

"We have been investing in Indian startups and saw the potential growth opportunities. That led us to launch an India-focused fund, we have reached the first milestone in little over 100 days. This validates our thesis on the next-gen innovations taking place in India, which have a global appeal," said Ghanshyam Ahuja, Managing Partner, ThinKuvate.

Investing in 30-40 startups

The fund aims to invest in 30 to 40 startups, with an average investment size ranging from Rs 1.5 crore to Rs 4 crore. It has also attracted top-tier General Partners from around the world to oversee deal flow, due diligence, and overall portfolio management.

According to the firm, more than 50% of the fund’s investors are non-resident Indians (NRIs) from countries including Singapore, Australia, the United States, the United Kingdom, and Indonesia.

"We have built capabilities within our team to provide support and help to startups scale faster. The profile of Limited Partners, who are working professionals with senior roles in large corporates, would be a huge differentiator for the companies we back," said Mayank Jain, CEO of ThinKuvate.

"Our vast network will not only bring in quality capital but provide access to the founders to accelerate their growth journey post funding from ThinKuvate. As we continue to raise the target corpus, we have already built a healthy deal flow and we are confident that with this fund, we will be able to build a strong portfolio and generate stellar returns for our investors," Jain added.

Investment in four startups

ThinKuvate said it has already invested in four high-potential startups: Rosh.ai, Zippee, Pantherun, and NymbleUp.

Founded by Srinivas Shekar in 2019, Pantherun is a cybersecurity company specialising in advanced data protection solutions. The startup has raised a bridge round led by QuickHeal Family Office and SIDBI Ventures, with participation from 8X, PiperSerica, and ThinKuvate. It plans to use the raised capital to expand its global sales team and R&D capabilities.

Founded in 2019 by Yogesh Bhatt and Manish Thakur, NymbleUp provides AI-driven Predictive Workforce Management solutions for QSRs and retail chains; forecasting demand across all sales channels at 15-minute intervals. The startup has secured pre-Series A funding led by Chandigarh Angels, IVY Cap, and ThinKuvate.

Founded in 2021 by Roshy John and Rajaram Moorthy, Rosh.ai specialises in autonomous vehicle technology, providing solutions for the automotive, seaport, and mining industries. The startup has raised $1 million in Pre-Series A led by EV2 Ventures, with participation from Caret Capital and ThinKuvate.

It aims to grow across industries with a focus on product development and expansion in mining and related sectors.

Founded by Madhav Kasturia in 2021, Zippee offers same-day delivery for 100+ (D2C) brands. Zippee is scaling its operations in metro cities and expanding its brand partnership.