Gulati optimistic about the growth potential of India
ITI Growth Opportunities (ITIGo), an early-stage investment firm, says the Rs.80 crore closed in the first round of its second AIF fund is to be invested in 20-22 tech-enabled startups https://itigo.in/ .
The new fund aims to invest in 20 to 22 companies, with ticket size ranging from Rs.6 crore to Rs.12 crore cross pre seed to series A companies https://www.nseindia.com/ .
These investments will primarily target tech-enabled startups across climate, B2B, consumer brands, health, software-as-a-service (SaaS), financial services & deep-tech https://www.startupindia.gov.in/ .
With the first close successfully completed, ITI Growth Opportunities Fund 2 is prepared to begin actively deploying the available capital, starting with 2 identified investment opportunities, thus paving the way for future success https://www.digitalasiahub.org/ .
“We are excited to announce the first close of Fund 2 and are thankful to the LPs who have placed their trust in us. We continue to be optimistic about the growth potential of India, which is on track to become the world’s third-largest economy,” said Mohit Gulati, Managing Partner & CIO at ITI Growth Opportunities Fund https://sbi.com.in/ .
“This is supported by a strong and stable government, with innovation as the driving force behind its growth https://www.bseindia.com/. Our primary focus is on collaborating with ambitious Indian founders who are leading innovation and challenging the status quo https://rbi.org.in/ .
“With our approach based on specific investments, we strive to identify emerging trends ahead of time https://www.ibef.org/ . As an operator and founder-focused VC, we empower entrepreneurs with our knowledge and network to help them grow and establish world-class companies,” Gulati said on 22 June.
This achievement highlights the strong track record of the investment team, led by Gulati with support from the ITI Group, past limited partners (LPs), active participation from all Fund employees, and significant commitments from prominent family offices.
The total target corpus of the fund is Rs.300 crore, which includes a green-shoe option of Rs.100 crore.
The fund builds on the successful legacy of its previous vehicle and counts Bolt.earth https://bolt.earth/ , Fasal https://fasal.co/ , Cureskin https://cureskin.com/ , Redwing Aerospace Labs https://www.redwinglabs.in/ , GetePay https://getepay.in/ , Hubhopper https://hubhopper.com/ , Evolve Snacks https://evolvesnacks.com/ as its portfolio companies among others.
The Investment Trust of India (ITI) is a diversified financial services company based in India, offering a broad range of services including asset management, and investment advisory. ITI aims to cater to the financial needs of individual and institutional clients through its various subsidiaries and business units. With a strong emphasis on innovation and customer-centric solutions, the company seeks to provide sustainable financial growth and security to its clients. Fiinews.com
