Amit Singal, cofounder of startup advisory services venture Startup Buddy, has launched Fluid Ventures, a sector-agnostic micro venture capital fund.
Fluid Ventures, which will target startups looking to raise seed to pre-Series A funding rounds, is targeting raising Rs 80 crore for its maiden fund. As per Singal, the investment vehicle will look to invest in both, B2B and B2C ventures.
“Apart from capital, we want to ensure the entire handholding of the startups in their journey as the growth partner, just like we have done in the past as angel investors. Our thesis, support and selection of startups are validated by past exits and follow-on capital our investments have raised,” Singal said.
He said the fund plans to start deploying capital by early 2020. Both Singal and his Fluid Capita cofounder Chittransh Verma, have invested in 30 startups, as per a statement.
Verma, till recently, was working as AVP of Atal Incubation Centre-BIMTECH, according to the statement. Singal had previously founded Startup Buddy, which describes itself as a one-stop shop offering end-to-end solutions of financial and startup advisory services.
“Fluid Venture aims to be the substitute to the angel investors and various angel platforms in the current startup ecosystem,” Verma said. “The ideal deal size the fund is looking to invest in lies between Rs 1 crore to Rs 2.5 crore in seed round, and then follow up capital once the company grows,” he added.