The venture firm, part of a company belonging to a royal family, plans to invest between $2,00,000 to $5,00,000 in early-stage start-ups
UAE-based Idein Ventures, part of RAK Sovereign Holding, is planning to widen its presence in the country's start-up landscape in coming months.
RAK is an investment holding company belonging to Ras al-Khaimah's royal family.
The announcement signals a good news for all the early-stage start-ups which are looking to raise capital at a time when funding for such new-age businesses is on a downswing.
The venture capital firm which started its India operations in October has so far made five investments – two in disclosed and three undisclosed start-ups. It plans to invest in another seven ventures in coming months, co-founder and director Ashwin Srivastava told dna.
Exposure of Idein, which is looking at early-stage investments, would be anywhere between $2,00,000 to $5,00,000 in each of these ventures, and going forward, its investments in the start-up sector may cross the $100-million mark.
"We are handling the investment portfolio of RAK Royal family partly through RAK Sovereign Holding and also through other entities including one in the United States. We have plans for $1.3 billion in all types of investments, of which we plan to put in 10% in start-ups," Srivastava told dna on the sidelines of an event on doing business with UAE, organised by Bengal Chamber of Commerce and Industry.
"Since October, we have started investing in India, taking exposure in about five start-ups of which we have disclosed two," he said.
Idein's disclosed investments consist of $160,000 each in tech-based learning platform Qriyo Infolabs and 3D modelling venture Infurnia Furnishings in the form of seed funding.
While Qriyo aggregates certified trainers offering home tutoring service for anything between Abacus to Zumba, Infurnia helps consumers create 3D models to customise their furniture before ordering them.
"Infurnia is actually creating something which is not at all there anywhere across the globe. So, we believe it would be a global company."
In fact, it is virtual reality that excites Srivastava, a graduate from IIT-Bombay, and the future may see investments similar to what Infurnia is offering.
"There are many amazing Indians doing work in virtual reality who need guidance. Social commerce and e-commerce of customised and personalised products are other areas we are pinning our hope on," he said.
Among its undisclosed exposure, Idein has invested in a last-mile delivery company and a building material e-commerce venture.
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