Social Business Incubator Villgro Completes First Round of Fundraising
Wednesday, January 20, 2016
Social business incubator Villgro has completed the first round of fundraising for its impact fund Menterra Venture Advisors that it has launched for making early-stage investments in healthcare, energy, agriculture, education and skilling startup companies.
The fund will invest Rs 1-3 crore in each company including follow-on rounds.
The fund will have a final corpus of Rs 40-50 crore by the time it makes its final close in March 2017, said PR Ganapathy, co-founder and adviser, Menterra Venture Advisors.
ET had in September 2014 first reported Villgro’s plans to set up an impact fund.
“Funds in this space have shied away from high-risk ideas which have a long product development cycle. Menterra is a result of the desire to have a facility by which hard-working entrepreneurs who have taken early-stage grant capital and done some good work with product development can get the next tranche offunding in equity and make ideas a reality,” said Ganapathy.