Mumbai-based venture capital firm BLinC Invest has on Thursday announced the final close of BLinC Fund II, a SEBI-registered fund, on April 27, 2022.
Having received strong interest and commitment from several Indian and global investors, including HNIs, Family Offices, corporates and institutional investors, the fund claims to have been oversubscribed. Additionally, the fund sponsors have committed over 8 percent of the fund against the regulatory requirement of 2.5 percent, stated the company in a press release.
Last year in April, BLinC Invest announced the launch of a Rs 100 crore SEBI registered Category-II Alternative Investment Fund (AIF) and its first close of Rs 30 crore. The fund has also made its first investment in an Insurtech startup, Vital, and led its Series A round.
The Founder and MD of BLinC Invest, Amit Ratanpal, said,
“We take immense pleasure in offering our extended help by way of funding as well as expertise to both edtech and fintech sectors as they are undoubtedly the backbone of the Indian economy. Technology has emerged to be the key enabler to the success of these early-stage companies, and we believe these two sectors show the most potential from a perspective of scale and profitability in light of the monumental positive impact that has on their users and their lives.”
As India witnesses over 10,000 unfunded companies across edtech and fintech industries, BLinC Fund II’s primary objective is to invest early and help them achieve future scale. It will offer investment assistance to all early-stage Indian edtech and fintech companies with a ready product, Rs 2 crore+ revenue and multiple market validation. These firms must also show evidence of market potential (at least $1 billion) and an ability to have global dominance.
On the back of BLinC Fund II, the company hopes to make five to seven investments in the range of Rs 10 crore to Rs 20 crore.
BLinC Invest has invested over Rs 300 crore in leading 25 companies to help them build products and scale their member base. The company has also founded eight businesses with eight prominent exits.
