Investment platform, BizDateUp Technologies, launched a Category I Alternative Investment Fund (AIF) worth Rs 200 crore to bolster innovation and entrepreneurship, focusing on sectors like sustainability and social impact through technology.
The fund will also provide startups in India’s Tier II and III cities with essential capital, mentorship, and industry connections, it said in a statement.
“Our mission at BizDateUp has always been to catalyse innovation and drive socioeconomic growth through strategic investments and support for budding entrepreneurs,” said Jeet Chandan, Co-founder of BizDateUp Technologies, in a statement.
“With the launch of our Rs 200 crore Category I AIF Fund, we are reaffirming our dedication to empowering startups in Tier II and Tier III cities, unlocking their potential to become the next engines of growth and innovation in India,” he added.
In FY23-24, BizDateUp funded over 25 startups in these regions, engaging with more than 1,000 active angel investors and achieving an average return of 3.5X.
Notable startups supported by BizDateUp include Passenger Drone Research Pvt. Ltd. in Nashik, ZEVO in New Delhi, and Immersive Labz in Pune, among others, spanning SaaS, electric vehicle, logistics, agritech, and gaming.
Edited by Suman Singh
