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DFAN, SCV form partnership to invest Rs 100 crore in tech startups

This partnership is aimed to strengthen the startup ecosystem by actively investing in startups along with providing active mentorships, advisory and business development


Press Trust of India  |  New Delhi 

startups, unicorn, funding, fintech, MSME, listing, companies

Digital Futurists Angels Network (DFAN), a global community-backed angel network, on Tuesday said it has formed a co-investing partnership with boutique investment banking firm Solis Capital and Ventures (SCV) to deploy a corpus of Rs 100 crores over the next four years in technology

This partnership is aimed to strengthen the startup ecosystem by actively investing in along with providing active mentorships, advisory and business development, a statement said.

The plan is to co-invest and deploy a corpus of Rs 100 crore over the next four years. This MoU will fuel DFAN's aggressive growth plans and the Rs 100 crore corpus will help drive the non-linear growth charter in investing in technology startups, it added.

"In pursuit of aggressive growth, we are not diluting the quality of the value we offer our investor network, along with giving our members opportunities to earn and learn. This corpus that Solis brings, will further strengthen our mission to add value to our ecosystem and enhance our outreach to worthy startups," DFAN co-founder, Director and CFO Mohit Arora said.

Sachin Manchanda, founder and Director of SCV said partnering with the DFAN towards investing in with a technology focus is a natural decision because of their strengths in evaluation and due diligence that translates into qualitative and balanced investing decisions.

"The success rate of DFAN's investments is poised to be higher than other angel networks and hence am happy for SCV to join hands with DFAN and further their investments in technology startups including the growing space of Real-tech," he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, January 12 2022. 01:12 IST