IDFC Alternatives is partnering with Parampara Capital, a venture capital firm, to launch IDFC Parampara Early Stage Opportunities Fund - Series I.
The Fund seeks to make Series A investments in companies across sectors where technology, intellectual property and innovation are primary differentiators, the company said in a statement here.
It is aimed at strengthening the ecosystem for nurturing innovation and start-ups in line with the government's Startup India initiative, it added.
"We continue to be excited about backing Indian entrepreneurs and our partnership with Parampara allows us to back entrepreneurs at an early stage. We are impressed with the founding team at Parampara and are confident that we will be able to achieve healthy returns as well as contribute effectively to the start up ecosystem," Managing Partner & CEO, IDFC Alternatives MK Sinha said.
IDFC Alternatives is currently focused on three key asset classes: Private Equity, Infrastructure and Real Estate and would add early stage investing as its fourth asset class.
The fund is targeting to raise around Rs 100 crore. IDFC Alternatives will have a strategic commitment to the fund including participation in the Funds Investment Committee and Advisory Board, it said.
Parampara Capital is the Investment Manager to the fund.
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