New Venture Capital Fund for Indian Tech-enabled Startups

MUMBAI, India - Sept. 29, 2015 - PRLog -- A new venture capital firm has been brought to India by serial entrepreneurs, investors and business leaders from Dubai, Mumbai and San Francisco. Idein Ventures is headquartered out of BKC in Mumbai and focuses on early stage startups.

Partners at the firm include Rajeshwar Prasad, who currently heads the royal family investment holding company in RAK UAE and has an experience of founding or leading several billion dirham companies, Mahesh Vellaboyina, a management professional based with 25 years of product development experience through association with Fortune 500 companies, and Ashwin Srivastava, a serial entrepreneur with background of IIT Bombay. Mr Prasad is also an ex-officio Cabinet Minister of the Republic of Guinea Bissau and hence connected to global organizations like United Nations and World Bank.

"We are committed to helping startups not just in their post revenue stages, but also at pre-revenue stage. We are looking for awesome entrepreneurs and a great team, and not just a great idea", says Ashwin Srivastava, the managing partner at Idein. Idein is looking to invest in companies which can create organization in unorganized sectors in developing countries, says the mission statement on its website. Most startups considered to be hot for investors fall in this category, as they look at disruptive growth by creating or hoping to create a new ecosystem.

Idein Ventures has entered the Indian market at a time when its at its peak in terms of venture fund investments. The first half of 2015 has seen a total investment of more than 3.5 billion dollars in Indian startup scene, which is the highest ever. The second half of 2015 is not looking as sweet, but more funds are coming to early stage startups. Bangalore is leading the startup scene followed by Mumbai in terms of early stage investments.