Mumbai: BlinC Invest to invest in 5-7 early-stage Edtech Startups. It may be noted that BlinC is also investing in fintech startups. BlinC Invest announced the first close of its INR 100 Cr ($13 Mn) alternative investment fund (AIF) at INR 30 Cr ($4 Mn).
The Securities and Exchange Board of India (SEBI)-registered Category-II AIF fund will invest in companies that have stable management teams which means there is a good market in India. The edtech companies should have at least 5mn learners and 10 mn users.
Overall, the first quarter can be considered encouraging for Indian startups seeking seed or early-stage funding. Over $125 Mn of seed funding was poured into startups in Q1 of 2021, compared to $150 Mn invested in Q4 of 2020 (16% decline), but a 17% increase from $107 Mn in Q1 2020.
The average ticket size fell from $2.2 Mn in Q1 2020 to $1.5 Mn in Q1 2021, as per Inc42 Plus’ The Indian Tech Startup Funding Report Q1 2021 report. The top 10 active investors of Indian startups cumulatively cracked 118 deals.
BlinC Invest claims to have made 4.5X return on the back of successful exits from 1crowd through a secondary transaction and Eduvanza, which has raised funding from Sequoia, Unitus Ventures and others.
