Startup Funding

FundVice, a hybrid of investment banking and startup acceleration, has announced an all-inclusive $11 Mn venture capital in India. The new fund, Ryoma Ventures, is going to be sector-agnostic and will focus on revenue-generating startups regardless of what stage they’re in. The corporation plans to close this fund soon with its present investors and is also looking at collaborations with different investors and funds.

FundVice from now on will be investing only in upcoming dragons and unicorns and is planning to enable their growth by categorising them wisely.

Heena Aroora, M.D., FundVice and Ryoma Ventures said, “We have seen many exciting startups that are revenue generating, but what they lack is the backing of the correct investors. Many different incubators, accelerators, and mentors have been supporting the FundVice team to enable startups to reach new heights, although they still lack investors. To support them, we decided to start this fund, with support of everybody, as the next step towards making a dent in the startup ecosystem.”

FundVice raised over ₹60 crore in funding in one year for startups, and also provides mentorship and curation. Later on, the corporate moved to a direct advisory role in startups of domains across edtech, logi-tech, and fintech. FundVice is going to raise more than ₹150 crore after curating startups, which shall be live in the market soon. At the end of 2021, the company plans to raise more than ₹250 Cr and boost up a minimum of 50 deals. Recently, FundVice organised the seed round for India’s first clean beauty market Vanity Wagon, therefore the corporation plans to replicate its success with more investments in the future.

As per the statement released by the company, FundVice selected the Japanese name Ryoma as it is an internationally inclusive fund. Ryoma means a dragon and a horse in Japanese, which refers to startups raising $1 billion in a single round and a valuation of above $1 billion, respectively.

Online Team AsiaTech
Online Team Asia Tech is a team of Journalists, Entrepreneurs, and Enthusiast Writers who contribute to the platform by bringing everyday stories, updates, opinions and insights from the Asian Startup Ecosystem.

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