Sympaseaims to raise up to $150 million for its debut investment vehicle and is bullish on Indian companies developing products for the world.
“That’s where the opportunity lies,” says Ruchira Shukla, a former IFC executive and founder of IFC. climate The health tech company partnered with Karthik Chandrasekar of Sangam Ventures to specifically bridge the gap in STEM (science, technology, engineering and mathematics) innovation.
Seed investment company Sangam has also recorded investments in the climate sector.
“We are already seeing early traction in the market and will be looking at companies with proven products and technology that are less risky,” Shukla said, adding that the current economic situation will help the market grow. He emphasized that this has led to healthy adjustment.
Investor interest in climate change in India has skyrocketed over the past two years. In 2022, six funds raised a whopping $989 million, while in 2023, 13 climate change-focused funds raised his $719 million, according to data from Venture Intelligence. has been procured. This figure far exceeds his $90 million and $31 million raised by two climate change funds in 2021. In 2020, one fund achieved $1 million.
“There are certainly a number of funds that have declared a focus on climate change,” Chandrasekhar said. “But some of them are focused on climate-related digitization models, supply chain automation and large-scale project deployments, where sensible technical due diligence is lacking.” suggested that there may be room for further modification of this standard. A few months from now.
In addition to running another seed funding program, Synapse is considering following a platform approach where it plans to incubate, adding: It will create investment-ready innovators,” Shukla said. “Our platform helps him identify, curate and nurture companies for three to four years before becoming eligible for investment by our VC fund.”
Edited excerpts from the interview:
