Exclusive: VentureHub raising early-stage VC fund
An angel investor has floated a new early-stage venture capital fund christened VentureHub that will seek to make seed-stage investments primarily in tech startups.
The VC firm has also roped in Rahul Agrawal, co-founder and CEO of online furniture and home décor marketplace MebelKart.com, as an early investor in the firm.
Nupur Hemant, founder and director of VentureHub, said, "The fund will have four GPs, all of them are renowned VCs in the startup ecosystem."
GPs are investment managers in private equity and venture capital firms who are also supposed to be investors in fund(s) managed and advised by such firms.
Hemant, who has had short stints at Reliance Communications and Infosys after completing her B Tech in 2010, has done a few angel investments in the recent past.
She said VentureHub will invest in nearly 20 startups from the maiden fund and will prefer to back startups founded by IITians: "However, we wouldn't say no to an exceptional idea just because it came from a non-IIT graduate."
IvyCap is another early-to-growth stage venture capital firm that has a similar filter and backs ventures floated by alumni of top engineering and management institutions such as IITs and IIMs in the country. It is currently raising its second fund.
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