US-based Mantra Capital, a cross-border early-stage venture capital fund, is launching a US$60 million fund to focus on deep tech investments. The fund has already raised US$24 million, according to a statement.
Photo credit: Mantra Capital
The fund, established by entrepreneurs Jay Krishnan, Srikanth Chintalapati, and Kevin Jacobs, will back startups working for human good in sectors like agritech, food, sustainability, circular economy, and health care.
Mantra said it has started scouting for initial investments in Singapore, India, and international markets including the US. It is looking to fund startups in seed and pre-series A stages that are developing solutions with AI, machine learning, blockchain, photonics, and robotics.
Krishnan and Chintalapati will be focusing on investments in India, while Jacobs will handle the US deal flow, according to the statement.
The fund is designed to help startups scale up through strategic partnerships with investors, global networks, industry experience, and market expertise.
The company said it will provide offshore venture services and managed services to startups. With the venture services, US and Indian startups may have access to corporate innovation scaling programs that will be launched in the second quarter of the year. Managed services, on the other hand, seek to support startups in terms of design, marketing, manufacturing, channel creation, go-to-market strategy, M&A, and fundraising.
It aims to close its first fund by the end of 2020, said Chintalapati.
Editing by Charmaine de Lazo
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