Nippon India Digital Innovation AIF invests Rs 50 Cr in Endiya Partners Fund II
Nippon India Digital Innovation AIF invests Rs 50 Cr in Endiya Partners Fund II – Rs 50 crore of Investment from the Nippon India Digital Innovation AIF Fund has been received by Endiya Fund II has under the Partnership with Nippon’s Digital Innovation Fund will provide Endiya portfolio companies with financial and strategic support leading to increased access to growth opportunities and sustainable scalability with Fund of Funds, maybe a true example of collaboration in Digital Partnership with the encouragement and support of the prime ministers of both countries as managed by Nippon Life India AIF Management Limited (NIAIF), a one hundred pc subsidiary of Nippon life assurance (NLI) owns 75 percent of NAM India.
The FoF plans to take a position in approximately 15-20 risk capital funds in India. The FoF shall invest across multiple horizontals like robotics & automation, internet of things (IoT), AI, machine learning, consumer technology, etc & various verticals like manufacturing, EV’s, automobiles, financial services, healthcare, education, eCommerce, retail, pharma, etc to be a seed and early-stage risk capital firm investing in IP led Indian product start-ups that are globally relevant with a portfolio includes Kissht, SigTuple, Darwinbox, Steradian Semiconductors, and Myelin Foundry.
Limited Partners within the Fund include financial institutions, corporates, and family offices across India, Europe, and the U.S. Endiya Fund II will seek to take a position in 16-20 start-ups, with an initial cheque size of $500,000 to $1 million in Seed/Pre-series Rounds and a planned investment of up to $5 million per company, with Ramesh Byrapaneni, founded in 2016 by Sateesh Andra, and Abhishek Srivastava, Endiya added Abhiram Katta to its top deck in 2018 and last expanded its Investments team by hiring Dipesh Chawla and Lakshmi Kancharla with delivering proven diary of identifying top entrepreneurial talent and helping founders scale the business – from Idea and market validation, team building, partner acquisition to follow-on funding.
We are excited about this partnership and appearance forward to sharing our resources, particularly supporting Endiya’s portfolio companies in their market development and future financing efforts in Japan through the presence of our investor base. We believe the partnership between India and Japan is of strategic national importance because it’s an ideal blend of Indian enterprise, its frugal innovation, and software skills with Tokyo and their hardware prowess. We believe access to “friendly” Tokyo is paramount to the future growth of Indian start-ups” said Sachin Bid, Fund Manager, Nippon India Alternate Investments, and reference to the NIDIA team even before they invested with confidence and support during such surreal times. aside from Business & Technology Partnership, Strategic Investment, and Exit Opportunities, Tokyo stock market (TSE) offers a beautiful liquidity choice to growing Product Startups” said Sateesh Andra, Partner at Endiya Partners providing a funding gap within the risk capital spectrum in India between Angel and Series A investments, enabling entrepreneurs to seek out a worth accretive partner to further the event of their vision to create a sustainable business model. “While industry averages state that 30 percent of seed deals continue to boost follow on capital, 75 percent of Endiya’s Portfolio has raised follow on rounds with ability to successfully identify and co-create globally scalable early-stage startups”, adds Sateesh.
Endiya Fund II last received a commitment of Rs 75 crore ($10M approx.) from the International Finance Corporation (IFC), a member of the planet Bank Group. IFC has also committed a further $10 million for direct co-investments alongside Endiya Fund II.
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