India's first venture fund by startup founders launched with U$ 85 million corpus
- IBEF
- July 29, 2021
Founders Mr. Girish Mathrubootham of Freshworks, Mr. Manav Garg of Eka Software, Mr. Shubham Gupta ex-Matrix, and Mr. Avinash Raghava ex-Accel have teamed together to establish a founders-first company called Together Fund in an effort to boost entrepreneurial enthusiasm in India.
The fund, which has a US$ 85 million initial capital, aims to assist India's finest SaaS entrepreneurs in building, scaling, and winning together, therefore creating India as a true product country. Together Fund is India's first and only venture capital fund run by founders. They operate some of India's most well-known SaaS businesses in addition to being founding partners of Together.
In a seed, pre-A, or Series A round, the fund will invest between US$ 250,000 and US$ 3 million. Founders want to be the first institutional investor because it allows them to perform the heavy lifting in terms of assisting entrepreneurs in building products and achieving product-market fit at the critical zero to one stage of the startup journey.
Apart from their time and skills, the Together Fund will provide access to a network of over 150 operators that can assist companies with operational knowledge, networking, and tactical context guidance. They will also assist firms in obtaining better vendor partner arrangements as well as open access to the finest CEO trainers.
“Freshworks is a huge firm with more than 3,800 team members and offices all over the world,” Mr. Girish Mathrubootham said in a blog post announcing the fund's debut. However, we were only a six-person company operating out of a tiny garage in Chennai over eleven years ago. I didn't have a gilded CV or come from a wealthy household, but that didn't stop me from dreaming big.”
“I recognise that not every creator is as lucky, which is why as an angel investor, I have funded more than sixty startups,” he continued. While many of these businesses thrived and developed into household brands, it was witnessing undervalued founders transform into ambitious individuals who were confident in their place in the world that brought me the greatest satisfaction.”
“Your connection with Together shouldn't only be like having an investor in your company - it will be like having an additional co-founder. I'll be there for you through thick and thin. The sort of investors we hoped to work with when we first launched our own businesses.” Mr. Manav Garg of Eka Software said in explaining the concept behind Together.
Mr. Ritesh Arora of BrowserStack, Mr. Kunal Shah of CRED, Mr. Aneesh Reddy of Capillary, and Mr. Gaurav Munjal of Unacademy are among the fund's limited partners.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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