Silicon Road Plans $5 Million Worth Investment for Indian Startups
18 September 2020
Silicon Road Ventures (SRV) is looking to set up a SEBI-registered alternative investment fund (AIF) to invest in early-stage start-ups. The AIF will be setting up with an initial corpus of $5million and are planning to kick off the program by February next year.
Silicon Road Ventures (SRV), a US-based retail-only venture capital firm, will be increasing its investment in early-stage start-ups to Rs 50 lakh per start-up. The company funds retail tech start-ups. It also provides them with the opportunity to test their product in a real-world environment and bridges the innovation gap in retail.
The company is expecting to get other investors on board and will file an application with the SEBI for approval. SRV has so far invested in seven start-ups in the US and five in India. Sanjay Srinivasmurthy, Director & Head of India operations said that they will be conducting two cohorts every year in India.
The company organizes Start-up Accelerator Programme through which it provides strategic support, market, and customer access. The program is also known for providing excellent industry and academic connections along with mentorship and guidance.
In the second startup accelerator program conducted recently, the fund selected three start-ups out of six shortlisted firms for investment. Sid Mookerjii, the Mysuru-based founder of the company has been a highly successful retail tech entrepreneur and leads SRV with a mission to drive the “future of retail, funded by the retailers”.
The accelerator programme provides seed funding to the startups from the US, Israel, and India. Silicon Road has rightly acknowledged the need of the hour and has facilitated companies with research technology and building retailer connections beyond funds. The company helps startups understand the problems of retailers and has been flexible to the startup stage while selecting them for their programs.
