GREX expects to steer Rs 150 cr funding for start-ups, SMEs

Investment platform GREX expects to channelise funding of Rs 150 crore to start-ups and small and medium enterprises (SMEs) in the country this year, a top company official said.
Also, by March this year, the company is hopeful of helping about 10-12 start-ups and SMEs raise Rs 20-25 crore.
"There are a large number of high net worth individuals (HNIs) who want to put their money into start up firms. There is a huge latent demand of potential investors to invest in start-up firms.
"We will be able to help the start-up companies raise about Rs 150 crore in 2016", GREX Chief Financial Officer Sameer Gupta told PTI.

GREX helps unlisted companies, having potential of giving smart returns, to connect with angel investors, HNIs to get private placement funding.
The company's SME business head Ranjan Singh said: "We are close to finalise deals for about 10-12 start-up firms to raise about Rs 20-25 crore by March this year".

Singh said a huge potential has been seen in the field of solar energy, business to business (B2B) segment as well as knowledge and skill based firms where the start-up firms will be foraying into.
The financial services start up firms are going to catch up, but also there will be consolidation, Gupta said.

GREX, which also participated at the Start-Up India launch by Prime Minister Narendra Modi a week ago, has been getting good response from new age firms, he added.