Baanhem Ventures Raises ₹3.3 Crore from Kumar Vembu’s Mudhal Partners

• ByStartupStory     |    November 19, 2024

In a significant step toward fostering Tamil Nadu’s entrepreneurial ecosystem, Baanhem Ventures, the creators of Startup Thamizha, have raised fresh funding of ₹3.3 crore from tech leader Kumar Vembu through his newly launched investment firm, Mudhal Partners. This funding aims to support the company’s vision of nurturing first-generation entrepreneurs from Tamil Nadu to become next-generation innovators and job creators.

Founded earlier this year by Hemachandran L. and Balachandar R., Baanhem Ventures has already created waves with its flagship business reality TV show, Startup Thamizha. The show has secured commitments of over ₹200 crore in investments for Tamil Nadu-based startups across its first three seasons, featuring entrepreneurs at seed and growth stages.

The program not only aims to provide financial support to budding entrepreneurs but also serves as a platform to shift the mindset of High Net Worth Individuals (HNIs) to invest in startups. This, in turn, will drive both economic growth and societal improvement in Tamil Nadu.

Commenting on establishing Mudhal Partners, Mr. Kumar Vembu said,

“I was impressed by Baanhem’s vision to specifically develop first-generation & native entrepreneurs from Tamil Nadu for the future, and their (Baanhem’s) scientific-approach to produce successful start-ups. It is for this very reason that I decided to be the first to join this novel initiative, which led to the establishment of Mudhal Partners (means First Partners in Tamil).”

On the occasion, the founders of Baanhem Ventures, Hemachandran L. and Balachandar R., stated,

“Financial support is a very critical component for first-generation entrepreneurs to start businesses and make an impact. At Baanhem, our mission is to be a dependable resource for these entrepreneurs to showcase their talent and turn their ideas into successful businesses. Having Mr. Kumar Vembu on board just makes our mission much more stronger and deeper. Through our maiden IP program, Startup Thamizha, we are committed to helping the want-to-be entrepreneurs turn their dreams into reality, contributing to Tamil Nadu’s economic growth and enhancing a lasting entrepreneurial culture in the state.”

Further elaborating on the vision of Startup Thamizha, Mr. Kumar Vembu remarked,

“The first wave of liberalization empowered Indian graduates to gain global expertise through foreign multinationals, sparking a movement that inspired countless entrepreneurs and fueled a thriving Startup ecosystem worldwide. Today, initiatives like Startup India, Startup Tamil Nadu, entrepreneurship cells, and incubation centers are fueling dreams for today’s youth—from colleges to corporate jobs—to embark on their own entrepreneurial journeys.

When I learned about Startup Thamizha’s vision to simplify fundraising and amplify success stories, its potential to transform Tamil Nadu’s Startup landscape was clear. By connecting founders with investors, Startup Thamizha will accelerate growth and inspire a new generation of entrepreneurs, driving Tamil Nadu toward becoming an entrepreneurial powerhouse.

I’m excited for Mudhal Partners to support Startup Thamizha, an IP by Baanhem Ventures Pvt Ltd and the visionary leadership of Balachandar and Hemachandran. Together, we are building a brighter future for Tamil Nadu’s Startups.”

The Startup Thamizha program is set to air on a leading general entertainment channel and will identify and support promising entrepreneurs with financial backing and mentorship.

Looking ahead, Baanhem Ventures announced its plans to raise additional funding from leading venture capitalists. This move aims to create a robust Startup-Investment Bridge Platform across India, connecting emerging startups with top-tier investors and further strengthening the entrepreneurial heritage of Tamil Nadu.

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