Newest Venture Capital Firm on the Block

Former e-commerce executives Raveen Sastry, Sanjay Ramakrishnan, and Bhushan Patil, who has worked in firms, for example, Alibaba, Paytm, Flipkart, and Myntra have decided to join hands and launch a venture capital firm  Multiply Ventures, an early-to-growth stage start-up fund of $50 million.

The reserve, which intends to put resources into the domestic consumption story, has received $10 million in commitments up until now.  

Paytm Founder Vijay Shekhar Sharma, Myntra Co-organizer Mukesh Bansal, Zeta Interactive CEO David A Steinberg, and a couple of Alibaba officials consider the initial fund backer. 

Sastry is Myntra's Co-originator and Ramakrishnan had worked in organizations, for example, Flipkart and Myntra. In the meantime, Patil has had stints at Alibaba and Paytm. 

In a joint statement, the founders of Multiply Ventures  said,

“We have had the unique experience of being part of the startup ecosystem, building some extremely valuable Indian digital consumer brands like Paytm, Myntra, and Flipkart. Based on our experience of building companies, raising money from venture capitalists, and as angel investors, we believe that investing in India needs an approach that works for India.” 

The Indian market, which offers an extraordinary opportunity as far as size, is likewise a standout amongst the heterogeneous and complex markets to scale. 

Multiply Ventures brings capital, individuals and environment on to a solitary stage to fundamentally build the chances of a start-up succeeding. 

The reserve is generally concentrating on three parts, including new retail, fin-tech and ed-tech, and would mostly put resources into Pre-Series A to Series A rounds. 

As of late, India and US-cantered Nexus Venture Partners, which puts $500,000 to $10 million in early development stage organizations, made another end of $353.5 million for its fifth VC finance, as indicated by it's most recent filing with the US Securities and Exchange Commission (US SEC). 

Endiya Partners, an early-stage investment fund, also completed the first close of its second fund at $40 million last month. The new fund claims to be the largest B2B-focused seed fund.

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