Venture capital firm launched by ex-partners of 100Unicorns, focusing on investments in startups during their initial stages.
Rajesh Mane and Ankit Jain, former partners at 100Unicorns (previously known as 9Unicorns), have recently launched a new venture capital firm. The new venture capital firm, yet to be named, has the backing of multi-stage investment firm Venture Catalysts.
Mane and Jain left 100Unicorns earlier this year and have now established their new firm, Spotlight Strategic Partners. This move implies that Venture Catalysts, which was a key backer for 100Unicorns, will also support their new venture.
The focus of Spotlight Strategic Partners spans across multiple sectors. The firm will invest in startups at their pre-seed and seed stages, similar to the approach of their previous venture.
Meanwhile, 100Unicorns, a homegrown venture capital firm, has faced another investment failure in the past two years. However, the firm has recently rebranded and launched a second VC fund with a $200 million target.
In other news, logistics-tech unicorn Shiprocket has secured a new offshore investor. Additionally, Troo Good, Yoho, and five other startups have raised early-stage funds.
It's important to note that Mane and Jain's new venture capital firm, Spotlight Strategic Partners, has not been involved in any previous investments in Indian unicorns, according to the available information.
The new venture capital firm's focus on early-stage investments could potentially provide a boost to the startup ecosystem in India, as it seeks to support innovative ideas in various sectors.
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