Early stage Venture Capital Fund, YourNest has further strengthened its vision of being a 'Nurture Capital' focused fund for startups in India by launching the coveted Entrepreneur-in-Residence (EIR) program.
The YourNest EIR program will aim to support proven entrepreneurs with disruptive ideas to build successful ventures of the future. This initiative further strengthens the commitment that YourNest has made to the entrepreneurial ecosystem in India. The time-bound program will nurture, mentor and provide potential entrepreneurs with access to a wealth of experience, insights and network from the entrepreneurs in residence that they can leverage.
Speaking on the development, Sunil Goyal, Managing Director and Fund Manager, YourNest Venture Capital said, "As part of our 'Nurture Capital' vision, we continue to pursue our commitment to back the best in the Indian startup ecosystem. I am delighted to launch our EIR program, which further reaffirms our commitment to recognize and support entrepreneurs who are in early stages of working on a new idea. Additionally, our EIRs will have the opportunity to provide strategic and operational mentoring to existing portfolio companies. The goal will, however, remain to develop a fundable concept that we can seed and help grow progressively."
A startup idea needs an eco-system that preserves and promotes entrepreneurship in addition to early-stage funding. India has not been able to spawn as many entrepreneurs as it can, because of the lack of such support/mentoring systems. They need nurturing, emotional support and mentoring. According to a recent survey of entrepreneurs conducted by conducted by a reputed organization, 45% of respondents considered acquiring senior management talent as a harder challenge than attracting investors. With the EIR program, YourNest Venture Capital intends to overcome this impediment for its portfolio and achieve its vision of being a true 'Nurture Capital'.
To further provide the portfolio companies a holistic 360-degree marketing and brand strategy support, Mohit Hira, an advertising and marketing professional as well as a co-founder, has been inducted into the leadership team at YourNest Venture Capital.
Nidhi Agarwal joined YourNest in part-time capacity as their first EIR to support their portfolio from her experience as an Entrepreneur of four years with her fashion-tech venture KAARYAH. She comes with ~20 years experience across Marketing Strategy, Business Incubation and Finance.
YourNest Venture Capital has been acknowledged as the Youngest VC Fund featured in top 10 Ranking byreturns by the prestigious Preqin Ranking. The EIR Program and strengthening of the leadership will allow YourNest Venture Capital to further build on its core strength of handholding and supporting portfolio companies across business cycles.