BLinC Invest marks a final close of its fund II at Rs 100 crore
- ByStartupStory | May 13, 2022
BLinC Invest, the Mumbai-based venture capital firm announced its final closure of BLinC Fund II which is a SEBI registered fund in April 2022. The company has so far received strong interest and dedication from various Indian and global investors incorporating HNIs, family offices, corporates and some institutional investors. It also claims to be oversubscribed. In addition to this, the firm has committed over 8% of the fund against the requirement of 2.5%.
In April, last year the startup declared the launch of Rs 100 crore SEBI registered Category-II Alternative Investment Fund (AIF) with its first close at Rs 30 crore. The fund has completed its first investment in Vital, an Insurtech startup and led its first round of funding. The company plans to invest in five to seven more companies in the range of Rs 10-20 crore.
Amit Ratanpal, the founder and MD of BLinC Invest said that the company is delighted to offer its help by funding along with offering expertise in both edtech and fintech sectors as they serve to be the backbone of the Indian economy. He also added that technology has by far been the key unit behind the success of these early-stage companies. Also, these sectors reflect the most potential and show the positive impact that it has on their users.
India has witnessed 10,000 unfunded companies in both edtech and fintech sectors, with this objective BLinC Fund II’s aims to invest early and scale up their businesses further. It would provide investment assistance to the edtech and fintech early-stage companies whose product is ready. BLinC Invest has invested more than Rs 300 crore in leading 25 companies to assist in building products and increase their member base. The startup has also discovered eight businesses with eight prominent exits.
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