New VC fund targets Indian start-ups
AUM Ventures wants to tap into India’s expanding digital economy
The Indian start-up scene is already being mined for potential future windfall by UAE and Gulf based blue-chips such as GII and Investcorp.
Aventure capital fund focused on Indian startups has gone live from AUM Ventures, licensed by the Abu Dhabi Global Market. The plan is to get those invested Indian entities into the UAE, and where possible, have them operate through ADGM.
India is the ‘youngest startup nation and home to the third most Unicorn-valued start-ups in the world’, according to a statement from AUM Ventures.
Ahead of its formal launch, AUM Ventures — with Chetan Mehta as Founding Partner — had already invested in 11 Indian ventures, including Esports XO and Skyroot Aerospace.
Mehta has through the years headed family offices and also been an angel investor. His portfolio included more than 60 start-ups in India, the UAE, US and Israel.
Investment strategy
“AUM Ventures aims to bring global best practices and strategic resources to Indian founders, while creating synergies for global investors looking to tap into India’s dynamic digital economy,” said Mehta. “Our investing strategy is designed to increase the magnitude of success and generate greater risk-adjusted returns for our investors.
“One of our key focus areas will be to bring our Indian portfolio companies to the UAE, help them set up their regional base at ADGM, and be their growth enablers in the region. Further, we will seek to invest in non-consensus, overlooked, and underfunded sectors off the radar of other firms, believing that founders can create entire market categories through bold ideas.”
“India is in the midst of a thrilling period in its socioeconomic history, benefiting from a thriving demographic dividend, exceptionally efficient internet penetration, and the growth of tech-focused businesses,” said Chetan Mehta of AUM Ventures.
India recently overtook the UK as the fifth biggest economy and with a projected growth rate of more than 6 per cent, it is forecast to emerge the third largest economy by 2030. India’s GDP could more than double to $8 trillion by 2030.
The Indian start-up scene is already being mined for potential future windfall by UAE and Gulf based blue-chips such as GII and Investcorp.
“We are excited to partner with AUM Ventures as they build a thriving platform to connect Indian founders with the vibrant and trusted ecosystem at ADGM,” said Arvind Ramamurthy, Chief of Markets at Abu Dhabi Global Market.