Induckt Global gets SEBI nod to raise RS 320 crore

Venture capital (VC) firm Induckt Global has received the nod from the Securities and Exchange Board of India (SEBI) to launch its maiden INR 320 Cr fund, Induckt Vision Fund, for early- and growth-stage technology startups.

The fund would be sector-agnostic with a mission to catalyse the growth and success of emerging companies, said Induckt Global.

To begin with, the VC firm is looking to invest in startups from sectors like healthcare, education, and ecommerce, among others.

Induckt Global is committed to providing mentorship, industry expertise, and a network of valuable connections to foster growth and innovation, the VC firm said in a statement.

Founded by Ayush Goyal, Induckt Global aims to foster overall growth and innovation in its portfolio companies by providing mentorship, industry expertise, and networking opportunities.

Speaking to Inc42, Goyal said Induckt Global started as a management consultancy firm in 2017 that worked with the likes of Paytm and OYO. Later, it also started an investment banking vertical. In 2022, the firm registered a separate VC firm.

Induckt Global is registered under category-I AIF fund with SEBI.

The newly launched fund also includes a green shoe option of INR 120 Cr. The ticket size of the fund will be between INR 1 Cr to around INR 16 Cr.

“With the backing of SEBI, we are confident that this fund will play a pivotal role in accelerating the growth of promising startups in India. We are excited to work closely with dynamic entrepreneurs and be a part of their journey towards success,” Goyal, who is also the CEO of Induckt Global, said in a statement.

The VC firm is currently in the process of raising capital from various LPs, including entrepreneurs and high-net-worth individuals (HNIs).

Despite a lull in the startup ecosystem amid the ongoing funding winter, many VC firms, angel investors, and PE firms, including 3one4 Capital, Arkam Ventures, Soonicorn Ventures, and Paytm CEO Vijay Shekhar Sharma, have launched new funds this year.

Since January this year, Indian startups have announced funds worth $5 Bn for Indian startups.

As per Inc42’s analysis, 718 startups raised funding in this year till October, a decline of almost 40% from 1,200 startups which raised funding during the same period in 2022. Inc42