Silverneedle Ventures launches a Rs 100 crore fund, backs Knorish

• ByStartupStory     |    October 22, 2022

Silverneedle Ventures (SNV), a fund focused on early-stage technology, has established its Rs 100 crore fund. Their first investment is in the Knorish creator monetization platform. SNV has invested an unknown sum in the start-Pre-Series up’s A expansion round.

Andrew Holland, Bharat Serum Family Office, IPV, Mumbai Angels, and Jet Synthesys are among the notable investors in the round. 

SNV was formed by Ajay Jain and Deepesh Agarwal, who are also the creators of Xseed Partners. The team consists of seasoned individuals who have made 30-odd early-stage investments and guided countless start-ups.

Knorish is constructing a platform for creator monetization by way of a sales funnel for online courses, webinars, and subscriptions. It intends to employ the investment to extend and grow its firm into new marketplaces, while also onboarding additional creators and utilizing the remainder of the fund to improve its tech ability. It currently has 32 employees working in technology, sales, customer success, content creation, and marketing.

According to Knoris, the firm is targeting an Indian market of 80 million creators and knowledge professionals who can turn their expertise into a creative business. It serves 38,000 academies developed by artists from 11 nations, with a million members in 45 countries.

Jain, co-founder and managing partner of SNV, said, “With our mentor-driven model approach, we will assign segment-specific experts across the globe for the portfolio so that each start-up is taken on a growth trajectory. Our limited partners (investors), be it, individuals, family offices, or fund of funds, can fuel the growth of the start-ups.”

On the investment in Knorish, Agarwal, founding partner at SNV, added, “The team believes the creator economy stands at an inflection point, as content creators are moving beyond simply working with brands and evolving their businesses by adding numerous revenue streams. As a result, platforms are moving fast to build an increasingly multifaceted offering of opportunities.” 

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