Synopsis
Venture capital as an asset class made its first major breakthrough in India in the mid-2000s. Venture capital funds ramped up their activity in the startup ecosystem a decade later. Now, a few alternative investment funds registered with Sebi and focused on income-based investments have emerged. They have so far closed nearly three dozen deals.
“He’s a pandemic baby.” Rahul Chowdhury, managing partner of N+1 Capital, India’s first revenue-based finance (RBF) fund, said of his investment company established nine months ago. Chowdhury and Ashish Singla were friends from business school and stayed in touch through their stints in startups and private equity. Singla landed at Chowdhury in Hyderabad to discuss the idea of a fund focused on cash flow based lending in March
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