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Highlights
- HDFC backed YourNest for its new product - The Continuum fund, offering exciting interest for their investors.
- The VC backed by HDFC gives confidence in its longevity.
- Similar investments were previously made for startups like Mike, Dozee, and Exponent Energy.
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
DeepTech is seeing huge growth. One of the prominent DeepTech companies, YourNest Venture Capital , secured a massive Rs. 400 crore continuation vehicle deal and named it “YourNest Continuum Fund I”
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Key Highlights
- YourNest Continuum Fund I offers to invest in a single startup and help towards its growth.
- Similar investments were previously made for startups like Mike, Dozee, and Exponent Energy.
Alongside launching the YourNest Continuum Fund I, the DeepTech venture has also ended its very first fund from 2012, which started off with Rs. 83.4 crores.
As per the announcement, this fund was highly successful, offering a 3.3 times return for its investors.
With this deal, YourNest Venture Capital gets a continuation fund, which will be supervised by the bigger financial institutions like HDFC through their AMC Select FOF I, along with backing from top family offices and existing investors.
Also Read: Vi Shareholders Approve Rs 4730 Crore Investment from Birla
YourNest Continuum Fund I – What is this new fund for?
This fund is based on a special setup called the “Continuation Vehicle or the Continuation Fund,” which reduces the need to hunt for startups to invest in, but instead, the fund managers can fund by selecting a single startup and be a part of its growth.
A few examples that are part of such a fund are Mike (AI and Robotics company), Dozee (health tech company), and Exponent Energy (EV tech).
Also Read: India Is Well Positioned for 6G After Over Rs 4 Lakh Crore 5G Investment by Telcos: GSMA
