Venture capital firm BlinC Invest marks final close of second Rs 100 crore fund

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Mumbai-based venture capital firm BLinC Invest announced on Thursday the permanent closure of BLinC Fund II, a fund registered with Sebi. The fund was oversubscribed, having received significant commitments from several Indian and global investors, including HNIs, family offices, corporates and institutional investors.

Additionally, the fund sponsors have committed more than 8% of the fund compared to the regulatory requirement of 2.5%.

BlinC Invest initially announced the launch of its Alternative Investment Fund (AIF) Category II registered with Rs 100 crore Sebi in April 2021 with an initial close of Rs 30 crore. The fund also made its first investment in an Insurtech start-up – Vital – and completed its Series A in June last year.

BlinC Fund II will primarily focus on the edtech and fintech segments, especially in the early stages. The fund has structured a simple criteria to determine which start-ups to fund – it will offer investment assistance to all start-up Indian edtech and fintech companies with a ready product with more than Rs 2-crore in revenue. These companies must also demonstrate a market potential of at least $1 billion and an ability to dominate the world, BLinC said in a statement.

On the back of BlinC Fund II, the company aims to make around 5-7 investments in the range of Rs 10-20 crore. The fund takes a co-founder approach to its investments by working closely with the management teams of portfolio companies to help them scale. The fund will also leverage the rich experience of its advisory board in the sector to hold portfolio companies accountable.

“We take immense pleasure in offering our extensive assistance in the form of funding as well as expertise to the edtech and fintech sectors as they are undoubtedly the backbone of the Indian economy. Technology has become the key factor in the success of these start-ups, and we believe that these two sectors have the greatest potential from a scale and profitability perspective in light of the monumental positive impact that they have on their users and their lives,” Amit Ratanpal, Founder and Managing Director of BlinC Invest, said in a statement.

The BlinC Invest team has successfully invested over Rs 300 crore in 25 leading companies in the past. The fund also has eight major outflows.

BlinC’s new fund comes at a time when India’s startup ecosystem has broken all previous funding records, with the country boasting around 96 unicorns to date.

Some of this unicorn creation has taken place in the past year alone.

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