National, Sept 6, 2023: Soonicorn Ventures (SV), the Gurugram-based investment technology platform, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to introduce an Angel Fund, operating as a Category-I Alternate Investment Fund (AIF). This significant development marks a major milestone for SV in its mission to support India’s burgeoning startup ecosystem.
The newly approved Angel Fund is sized at an impressive INR 250 Crores, with an additional INR 250 Crores available as a green-shoe option, bringing the total fund capacity to INR 500 Crores. This substantial allocation underscores SV’s commitment to nurturing and empowering early-stage startups in India.
SV adopts a sector-agnostic approach and will allocate investments ranging from INR 50 Lakhs to INR 4 Crores in startups at the Seed to Series A funding stages. The platform has been investing in promising sectors such as Drone Technology, B2B SaaS, Electric Vehicles (EV), Financial Technology (FinTech), Supply Chain Logistics and others.
“We had set an ambitious target to build a portfolio of 30 startups this year, and we are proud to announce that we achieved this milestone in less than 8 months despite a funding winter. This accomplishment is a testament to the confidence our investor community has placed in our rigorous deal curation process. With the introduction of this Angel Fund, we aim to provide more flexibility to investors and facilitate single cap-table entries for startups. Additionally, we will assist syndicates in utilizing fund-as-a-service,” stated CA Vijay Singh Rathore, CEO, and Co-Founder of Soonicorn Ventures.
“From the outset, our vision has been to create a vibrant community that welcomes High Net Worth Individuals (HNIs), Venture Capital Funds, Family Offices, and Angel Networks. We are delighted to host a community of over 2000 investors, and this number continues to grow organically. For investors, the SV platform is free to join, with no annual membership fees, making it easy for them to explore investment opportunities and diversify their portfolios,” added Vijay.
Beyond funding, SV provides extensive mentorship and global networking opportunities to its portfolio startups. The platform’s angel investors collaborate closely with founders, offering expertise in technology, marketing, and other critical areas of business development.
CA Pravesh Kumar Goel, Co-Founder of SV, emphasized the platform’s dedication to regulatory compliance, stating, “The trust placed in us by both investors and founders has inspired us to invest more time and energy in developing a robust regulatory framework. This Angel Fund is a significant step in that direction. We are committed to ensuring that all our angel investors remain compliant and can grow their wealth without any concerns.”
Soonicorn Ventures’ portfolio boasts startups such as Zypp, Zingbus, Samosa Party, SupplyNote, AutoNxt, Skylark, Cusmat, Savart, and many more. SV remains committed to presenting high-potential investment opportunities to angel investors and serving as a valuable deal sourcing funnel for institutional investors.