G.S.K. Velu launches India VC fund

The fund, called Stakeboat Capital, will seek Series B investment opportunities in Indian companies with established cash flows and proven business models. Velu will be the anchor investor, committing $20 million; the rest will be raised from domestic family offices and institutional investors.

Stakeboat is still awaiting regulatory approval; once it is received, the firm will look to begin closing deals while it raises the rest of the corpus.

"Just like a stakeboat helps other boats navigate the race, our fund will steer entrepreneurs towards building sustainable and successful businesses," Velu told the Economic Times.

Along with the VC fund, Velu also announced the launch of a family office with a $75 million corpus, which will look for longer-term deals with a more strategic focus.

Velu sold his 37% stake in Metropolis to the Carlyle Group last year, following a dispute with his co-promoter, the Sushil Shah family, over their purchase of a 27% stake held by Warburg Pincus. Velu claimed he was not informed of the deal until after it was over. The value of Velu's sale was not disclosed, but media reports at the time put it at INR9 billion ($135 million).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• South Asia
• Venture
• Fundraising
• GPs
• India