US-based EVC launches $50m India fund

According to a statement, the EVC II fund will make investments between $100,000 and $5 million via a network of investors and mentors with expertise across a range of sectors. EVC focuses on ad tech, e-commerce, gaming, education, mobile apps, enterprise software, wearables and device-focused internet connectivity, otherwise known as the internet of things.

"Today, India has emerged as one of the most assuring entrepreneurial landscapes," EVC Managing Partner Anjli Jain said. "We have launched the fund looking at the opportunities that the Indian ecosystem has to offer and the gap that we can bridge by supporting new businesses that can put India on the global entrepreneurial map."

Earlier this year EVC invested $4 million along with India's Telecom Centres of Excellence in a niche entrepreneurial support program called Mobile App Development Ecosystem (I-MADE), which aims to create one million start-ups over five years. The firm's investment criteria include a focus on companies that are built on I-MADE, revenue generative and globally ambitious.

EVC has an office in India and operates accelerators in both India and the US. These platforms typically invest $5,000-100,000 in start-ups in exchange for equity while providing co-working spaces.

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• Topics
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