Finvolve, a joint venture between India Accelerator and Finolutions, has successfully closed its two maiden funds, securing a total corpus of Rs 100 crore, founder Apoorva Vora announced.
The Gurugram-based angel investment firm specializes in curating a deal flow of startups for wealth managers, enabling them to generate returns for their clients. Finvolve aims to invest a minimum of Rs 25 lakh in 25-35 sector-agnostic startups through its newly established funds, both structured as Alternate Investment Funds (AIF) category-1.
Apoorva Vora emphasized Finvolve’s commitment to being a purely B2B player in the angel investment space, raising capital exclusively from the wealth management community. “Wealth managers understand the risk profile of the end investor the best and they have access to large client families,” Vora explained.
Since its incorporation in July 2022 and the commencement of operations in December 2022, Finvolve has collaborated with about 100 wealth managers nationwide. The firm has completed 11 syndicated deals, and between the syndicate and the funds, it boasts 21 investments in companies such as electrical motorbike maker Matter and ridesharing platform Advance Mobility.
Looking ahead, Finvolve plans to launch three additional funds, including one with a Gift City domicile. The upcoming funds include an accelerator fund, a seed fund with both domestic and Gift City variants, and a scale fund categorized as category-2 for pre-IPO companies.
The accelerator fund is set to invest in 60-65 startups, while the seed fund will target 20-25 startups. The scale fund, with a corpus of Rs 40 crore, will focus on investing in 6-8 late-stage companies poised for public listing.
This strategic approach underscores Finvolve’s ambition to become a significant player in the angel investment landscape, fostering growth and innovation across various sectors.
