One of the earliest PE funds in India and about 4000 crores invested across 4 funds in 60+ companies, Baring Private Equity Partners (BPEP) India with Inflection Point Ventures has recently launched a fundraising and support platform to drive deep tech innovations in India. The platform Sanchiconnect aims to make Indian deep tech products accessible to global investor and enterprise buyer community along with technology talent and business services.
Among 70+ investors, some of the notable VCs and investment networks that have joined the platform are Capital2B (InfoEdge), Bharat Innovation Fund, Pi Ventures, Speciale Invest, Nexus VP, Yournest VC, GrowX, Ankur Capital, Indian Angel Network, Endiya and Modular Capital. The platform has come out of stealth mode in the last week of August and has already confirmed few success stories in the form of term sheets through its investor network.
Sanchiconnect will facilitate investments in early-stage as well as growth-stage startups working in the field of AI/ML, Blockchain, Computer Vision, Drone, Renewable Energy and other deep-tech technologies with deal sizes ranging from $100,000 to $10 million,
“India has the potential to become a leading hub for deep disruptive technology companies. SanchiConnect is an exciting platform enabling fundraising, recruitment, customer acquisition and strategic partnerships for this ecosystem. We are delighted to partner with SanchiConnect to constructively engage with this ecosystem” – said Rahul Bhasin, Managing Partner, BPEP India.
With more than 60+ portfolio companies in technology, healthcare, real estate, financial, industrial, and consumer products like Persistent, Cipla, Mindspace, HDFC, Homelane, Dabur, BPEP India has an active interest in deep & emerging technology companies.
Launching Sanchiconnect, the CEO Dr Sunil Shekhawat said investments in the space remain low as deep-tech innovations take a long to deliver returns. Despite an impressive compound annual growth rate of 53% in the past decade, as per the Nasscom report, startups in the space are still looking for access to seed capital and thematic funds to reach potential customers. Sanchiconnect will strive to facilitate more investments in the segment. We expect over 1000 startups and 300 global investors by the end of March 2023.
Inflection Point Ventures (IPV) with 200 Cr already invested and getting profitable exits from companies like BharatPe, Toch, Fitso, and Qbera sees this partnership as a great initiative to support founders building complex but disruptive solutions in India for the world.
“The quantum of deep tech funding proposals coming to us has been growing consistently over the years and so does our member’s interest. This partnership is symbolic of our commitment to go higher on deep tech investing and reduce the timeframe in rolling out term sheets to deep tech founders,” said Ankur Mittal, Founding Partner @IPV.
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