Business

Mindtree founders’ Mela garners ₹130 cr.

Mela Ventures, a new firm established by the founders of Mindtree, has announced a maiden fund of ₹200 crore.

The technology fund, approved by SEBI, has already garnered ₹130 crore in commitments from investors. Other than the anchor investors and professionals with expertise in technology, some institutions too may be a part of the fund, sources said.

Mela Ventures will support early-stage companies using cutting-edge technologies to build B2B solutions and targets to make 4-5 investments in the next 18 months in the ticket size of ₹7 crore to ₹10 crore.

Krishnakumar Natarajan, managing partner, Mela Ventures, told The Hindu, “We are in talks with close to a dozen companies and these dialogues are at different levels. We expect to close our first investment in the next two to three weeks in an AR/VR firm. Our key focus will be AI/ML, AR/VR, IoT, Cloud Migration, and Deep Technologies and companies based in Bengaluru, Chennai, Hyberabad and Pune.’’

Parthasarathy N.S, managing partner, Mela Ventures, said: “Entrepreneurs continue to innovate and solve impactful problems for large enterprises. And they realise that beyond the funds, they can immensely benefit by the expertise, experience and empathy that we bring to the table. Many of our investors are technology professionals who share the same passion as we do, for meaningful technology, start-up community and building Indian entrepreneurs.’’

“For many of us, it is our third innings. We already did a good 20:20 (20 years each) and hope to grow this venture significantly in the next 20 years,” added Mr. Natarajan.

All Indian founders of Mindtree are part of Mela Ventures, except Mr. Soota. .

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Printable version | Oct 27, 2020 12:00:11 PM | https://www.thehindu.com/business/mindtree-founders-mela-garners-130-cr/article32432129.ece

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