JSW Ventures 100-cr fund gets Sebi clearance
JSW Ventures, the venture capital arm of JSW Group with interests in steel, energy, infrastructure and cement, has received the mandatory clearances from markets regulator Securities and Exchange Board of India (Sebi), paving the way for it to begin investing.
Hyderabad: JSW Ventures, the venture capital arm of JSW Group with interests in steel, energy, infrastructure and cement, has received the mandatory clearances from markets regulator Securities and Exchange Board of India (Sebi), paving the way for it to begin investing.
The venture capital fund, which provides early-stage funding to technology-enabled startups operating in the education, healthcare, financial services, software-as-a-service (SaaS) and enterprise software space, will have an initial corpus of Rs 100 crore, which it will invest over a period of three years.
The fund will be overseen by Parth Jindal, recently appointed Managing Director of JSW Cement, while Gaurav Sachdeva has been appointed Managing Partner. "Technology innovation is happening across sectors, from old-fashioned verticals like real estate to research-driven work being done in machine learning and artificial intelligence.
We think that the opportunity to innovate across sectors and businesses is immense and want to be a part of this transition,” Jindal said in a statement on Thursday. “As an early-stage fund, we will not only provide capital but will remain strong partners of our investee companies as they grow, leveraging the JSW Group’s expertise and experience to help them blossom into world-class companies,” he added.
