The seed fund cum accelerator program in India for early stage digital businesses will invest upto Rs 2.5 crore in selected startups
BestMediaInfo Bureau | Delhi | September 27, 2012
Pearl Uppal, former CEO and Co-Founder Fashionandyou.com and Gaurav Kachru, former CEO and Co-founder of dealsandyou.com have joined hands to launch 5ideas.in ( www.5ideas.in ), aimed at fueling the tech startup ecosystem in India. As the first initiative under the 5ideas brand, they have launched the 5ideas Startup Superfuel Fund, which is the first seed fund cum accelerator program in India for early stage digital businesses. The Startup Superfuel concept is based on investing abalanced combination of financial capital, human capital and social capital.
“In the early stages of venture capital funded businesses, the venture is more important than the capital. The business often has significant challenges on the human capital (people, experience & expertise) and social capital (business networks, ability to source talent) critical to take it to the next level. We address these gaps by working with the entrepreneurs and supporting their operations in addition to financial capital creating the formula for a growth superfuel,” says Pearl Uppal.
Gaurav Kachru added, “We help startups in ways that other funds cannot. We are heavy weight lifting partners who have the know- how to deliver hands on value. We work with businesses for a year, to help take them to the next logical stage in their growth process. The first 6 months we work as close operating partners who have experience in scaling businesses and can help them avoid the pitfalls a typical first time entrepreneur may face. The next 6 months we will assist in accelerating the business and helping raise capital. While our core focus is startups, we will also work collaboratively with startup accelerators on one hand and the institutional venture capital players on the other. 5ideas will activelyseekand further collaborative networks across the startup ecosystem.”
5ideas Startup Superfuel Fund is the first of its kind in India and will invest upto Rs 2.5 crore in selected startups, as well as deeply collaborate as operating partners with the startup teams for a period of 6 months to a year. In this year long collaboration program, 5ideas will also provide access to experienced mentors and valuable industry connections that will help set the right foundations for early stage businesses as well as accelerate their commercial growth. 5ideas partners will work hand in hand with the entrepreneurs through their early stage, helping accelerate their traction with customers and future institutional and corporate investors. With the right blend of financial and human capital, the 5ideas seed capital will deliver unmatched value to startups looking to build high- growth capital-efficient businesses.
Since human capital is a big part of what 5ideas delivers beyond the seed investment, 5ideas will be very selective and will work with only upto 5 startups at a time. 5ideas is looking for outstanding startup teams going after Internet and Mobile markets ripe for disruption with the ability to build great products for their target customer. The Superfuel fund has already opened applications for their first batch of investments.5ideas aims to shortlist their first batch ofstart-ups by end of December 2012 and initiate their program by end of January 2013. Interested high potential startups looking to get the Superfuel boost, can apply by writing to firstname.lastname@example.org.
5ideas Superfuel fund is targeting to raise $10 million, of which a part has already been raised from domestic investors. The company is ready with funds and teams to start investing by January, next year.
Pearl Uppal brings with her 13 years experience of building startups and high growth businesses in the Internet Industry across media and commerce. Gaurav Kachru is a veteran in building young businesses across sectors and has spent over 10 high growth years in General Electric before moving to the digital sector and co-founding dealandyou.com. In his 3 years in the digital space, he has helped scale fashionandyou.com, was the co-founding CEO of dealsandyou.com and also oversaw the incubation of several new businesses for the Smile Group. Over the past decade, he has been part of over 10 successful transactions and has helped raise over USD 70 Million dollars for businesses in the Internet sector. Between the two partners, they bring a unique blend of experience, skills and networks that have the strong ability to strengthen the foundations of early stage startups and help accelerate their journey to commercial scale and success.
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