Inga Ventures Sets Up $15 Mn Fund To Invest In Indian Startups

• ByStartupStory     |    October 11, 2022

Inga Ventures, Mumbai-based investment banking firm has raised a $15.1 Mn (INR 125 Cr) fund from Singapore-based private investment fund TIH Ltd, called ‘Ekkum TIH Emerging Opportunities Fund’,the overall target is $60.6 million (INR 500 crore), a statement said, adding that the fund has received commitments of $3 Mn (INR 25 crore) from its sponsors and affiliates.. Inga Ventures has over two decades of experience in investment banking and provides financial and strategic advisory services, the firm is set to invest in medium-sized Indian companies, including startups, specialty chemicals, FMCG, electronics, food and agriculture, and those operating in healthcare or pharma.

Founded in 1994 by Wang, TIH is an SGX-listed (Singapore Exchange) private equity fund, it has invested in companies operating in various sectors, including consumer and industrial products, healthcare, technology, media and telecommunications, food, manufacturing and chemicals.Alan Wang, CEO of TIH said“We are delighted to partner with Inga, a veteran corporate investment banking firm in India with a mid-cap segment focus. Their wide reach across the country presents great investment opportunities for us in the mid-market space in corporate India. We believe That partnership will help both parties expand opportunities from both a direct investment and cross-board perspective.” 

According to a report Indian startups raised $3 billion in 334 deals in the third quarter of 2022, a decline of 82% on a year-on-year basis and 50% on a quarter-on-quarter basis.

PE and VC firms, including spiticap, Elev8 Venture partner, Weaving Capital And all in the capital have recently launched several India-focused funds to invest in startups despite the fact that Funding Paucity has forced many startups to take various cost-cutting measures including layoffs of employees, the funds launched in 2022 have cumulatively raised more than $15 billion.

Follow Startup Story