AI is now in every sector and reason for growing investment opportunity in India and have significant impact on patterns of investment .India is abig player as the economy is booming and business are ready to invest in AI based initiatives.
The crucial point is AI in India will manifest hugely and make impact in the existing digital public infrastructure push from the Indian government .The Govt of India has made huge efforts in uplifting the digital based initiatives and that has benefited the economy as a whole. This has inspired investment from across the world in various initiative and start up based business in India and helping job creation.
According to EY, generative AI’s cumulative impact on India’s GDP may range from $1.2- $1.5 trillion by 2029-30.
GenAI will significantly optimize the entire value chain, making it more efficient and responsive to market dynamics.
It is also significant to understand thatpromoting AI awareness and cultivating a culture becomes equally important maximizes positive impacts while preventing misuse.
Capria Ventures to launch $100 million India-focused fund for Applied GenAIStartups in First half of 2024
- Venture capital firm Capria Ventures preparing to launch a $100 million India-focused fund in the first half of 2024, according to Surya Mantha, the firm’s managing partner.
- The move is part of the firm’s strategy to increase investments in the region, particularly in early-stage start-ups that have embraced generative artificial intelligence (Gen AI) as an integral part of their business strategy.
- The development comes after the company closed investments worth $20 million last year from its $100 million Global South fund II in regions such as India, Southeast Asia, Latin America, the Middle East, and Africa.
- The India-focused fund will invest in sectors such as fintech, job-tech, and software-as-a-service edtech.
- The company wants to ensure that the companies in which they invest have founders who are reasonably confident with credible plans.
- Additionally, they consider a reasonable amount of revenue, sound unit economics, and the ability to achieve profitability and cash flow breakeven.
- Capria Ventures launched its Global South fund II in 2023, with the aim of investing in 20-25 tech startups in India, Southeast Asia, Latin America, the Middle East, and Africa. According to Mantha, five investments have been closed from this fund and 3-4 are in the pipeline. He also said that about three deals are under active consideration.
- Over the next quarter, Capria Ventures expects to complete 8-10 investments in total, Mantha said. The Global South Fund had earmarked about 60% of the $100 million for India.
Capria Ventures has thus far invested in companies within its targeted global South region, including Betterplace, BharatAgri, Eduvanz, and Edenfarm.
The company was co-founded by Will Poole and Dave Richards, has offices in Seattle, Bengaluru, Nairobi, and Washington DC. The firm has over $1.25 billion in assets under management collectively.
