Chiratae Ventures To Offer 48-Hour Turnaround On Seed Fund Requests
- ByStartupStory | July 7, 2021
Venture advisory firm Chiratae Ventures will offer a 48-hour turnaround on seed fund requests and pitches for investments that are less than or equal to $500,000, an industry-first initiative for the Indian startup ecosystem. Chiratae Sonic aims to accelerate and democratise the fundraising process for founders and ensure quicker access to capital, a senior company executive said.“One of the biggest challenges an early-stage entrepreneur faces is the tedious and time-consuming process behind raising capital,” Sudhir Sethi founder and chairman of Chiraetae ventures. Early-stage investing has undergone a paradigm change in the last three to four years with an increasing number of venture capital investors looking to generate a healthy deal flow and backing winner ideas from the seed stage.
As capital gets commoditised, the only differentiator within funds is the network they bring to the table and expertise they offer. Chiratae Ventures’ advisory board includes: Ratan Tata, chairman emeritus of Tata Sons, Kris (S) Gopalakrishnan, co-founder of Infosys, Bruno E. Raschle, founder and MD of Schroder. Quite a few funds have started incubator programmes, calling in idea-stage startups to pitch and backing winners with capital. An increasing number of funds have sprung up to back companies even at the idea stage. “We as a team go through at least 3,000 deals each year. After having backed 60 active startups, there is a fair idea of what will work and what won’t,” Sethi said. As the deals get bigger in later stages, the fund spends enough time on due diligence, he said. Diligence for all investment under Sonic initiative, will be completed rapidly and remotely with trusted partners.
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