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City start-ups get a fillip
In a major boost to entrepreneurs who are nurturing their dream of start-ups, 50K Network, a part of 50K Ventures, has announced its launch in Hyderabad in July. Founded in 2014 by Sanjay Enishetty and Vineel Nalla, 50K Ventures is a network of accredited investors and accomplished mentors.
In a major boost to entrepreneurs who are nurturing their dream of start-ups, 50K Network, a part of 50K Ventures, has announced its launch in Hyderabad in July. Founded in 2014 by Sanjay Enishetty and Vineel Nalla, 50K Ventures is a network of accredited investors and accomplished mentors.
The company aims at investing in at least one startup a month. The venture has claimed that any investment will have an average bracket of Rs 25 lakh to Rs 1 crore. “With the motive of fuelling the growth of organisations of tomorrow and creating a platform for the leaders of the future, 50K Network is collectively working with a lot of High Networth Individuals (HNIs), serial entrepreneurs and mentors to seed, nurture and accelerate early stage companies,” said Vineel Nalla.
50K Network has already backed city-based Violet Street and Zify. The company also had a soft-launch in Mumbai. The board of 50K Network includes stalwarts from different walks of life whose expertise lies in their experiences. The launch event will be graced by the board members – Phanindra Sama, co-founder, redBus.in; Sanjay Jesrani, former CFO, Hitachi Consulting Services; Srinivas Kollipara, COO, IIIT-CIE, and other distinguished people like Brijesh Chandwani, founder, Beam Telecom Private Limited; Venkat Vallabhaneni, founder, Parampara Capital and Sridhar Pinnapureddy, CEO, CtrlS Datacenters Ltd.
