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Anthill Ventures, which handholds early-stage startups, is in the process of raising USD 25 million to expand its corpus, a senior partner said. "We are raising USD 25 million to expand our fund. We are looking for two types of investments, either from corporate ventures or strategic investors from family offices," Prasad Vanga, founder and CEO, Anthill Ventures, told PTI here.
It is looking to close the fund-raising by the first quarter of 2018. "We help startups scale their business from pre-series A stage to Series A. This is an under-served area, and many startups die at this stage without access to good market access or advice," he added. The company started in 2014 with a corpus of USD 2 million and has grown 150 per cent since, he added. The platform has so far made 21 investments, split between India and Singapore. "We will make another four investments this year," Vanga said. It is looking to launch four sector-specific accelerator programmes in 2018, he further said. He observed that early stage capital is drying up and there is ample scope to help companies scale up at early stages. On startup valuation, he said it has more or less stabilised from the astronomical level two years ago and come down to decent figures.
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