Funding Alert

Hurun India, Konglo’s founders launch maiden VC fund, Callapina Capital

• ByStartupStory     |    January 11, 2023

An early-stage venture capital firm called Callapina Capital has announced the opening of a $4 million fund to support seed to A round investments. 

Callapina Capital Fund I, launched by Vinod Jose, co-founder of Konglo Ventures, and Anas Rahman Junaid, creator of Hurun India, will have a sector-neutral outlook and concentrate on seed to pre-series A-stage businesses with typical ticket sizes of Rs 1-2 crore. 

With a major focus on Indian businesses and international businesses with Indian founders, the fund seeks to make 15 investments over the course of two years. In addition, B2B (business-to-business), SaaS (software as a service), and tech-enabled businesses with an India-to-global strategy would be sought after by the fund I.

Over the past nine years, the co-founders Junaid and Jose have syndicated Rs 50 crore into 24 startups and achieved 4 exits. 

“Over the next decade, India Inc is going to register the biggest value creation in its history. Many wealth creators are setting up family offices and professionals (in India and abroad) are becoming active angel investors. This could push India’s startup ecosystem to the next level. Callapina along with Hurun India will add value to startups via capital and strategic access to our network,” said Junaid.   

Jose has worked with private equity funds, businesses, and family offices during the course of his more than 15 years of experience in international management consulting and technology. In 2013, he established Konglo Ventures. Over 150 international investors, primarily from the Indian diaspora, make up the angel network. In addition, Jose holds the position of Principal of Amane Advisors, a global strategic consulting company with a focus on the water industry.

Junaid founded Hurun India, which publishes the “Hurun India Rich List,” “Hurun Unicorn Index,” and “Hurun Future Unicorn Index” and has assessed more than 2,500 Indian businesses from a range of industries. He has an MBA from Oxford University and splits his time between Mumbai, India, and Dubai, United Arab Emirates. Junaid has a wealth of experience in deal structuring, private equity fundraising, and business valuation.

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