Ideaspring sets up Rs 125-cr fund for product startups

New Delhi, Apr 25 (PTI) Technocrats including T V Mohandas Pai, Rajiv Mody as well as Patni scions Amit and Arihant Patni have joined hands to form a Rs 125-crore fund, Ideaspring Capital, to back product startups in the country. The venture fund will invest in early-stage product innovation startups, seed funding of up to Rs 3 crore and subsequent co-investment at series A stage of up to Rs 5 crore, a statement said. Ideaspring Capital is planning to invest in only 4-6 startups a year and provide high touch Startup Assist programme, it added. The fund is backed by entrepreneurs and investors, like Mohandas Pai, Naganand Doraswamy, Prashant Deshpande, Amit Patni and Arihant Patni amongst others. Ideaspring Capital has raised majority of its investment from Indian investors with Aarin…


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