SRI Capital shifts focus, to invest in more Indian firms

Tags: News
SRI Capital, a seed stage venture fund, is looking at investing in Indian starups, shifting focus from US-based technology companies. The investment firm, which typically puts in between Rs 5 to Rs 15 crore, hopes to utilise the Rs 100 crore fund in the coming 18 to 24 months.

“We have already invested a little over Rs 50 crore in 15 companies, most of which are in the United States. These are technology start ups and in fact four of them are looking to raise second round of funding. SRI Capital would like to participate in follow-on investments too.

I also think this is the right time to focus on Indian start-ups and would be keen to invest here,” said Sashi Reddi, founder, SRI Capital.

Reddi had set up the seed fund in his own capacity and may look to ramp it up, as and when needed. The fund typically invests in companies that do not have a track record but are ready with a team and a concrete idea. This apart, it also does not hold barriers and puts in money in no-revenue companies too.

On these lines of strategy, SRI Capital has invested Rs 3 crore in Hyderabad-based start-up Hello Curry, which aims to offer what it calls fast Indian food.

“This is a new segment for us to invest in. We typically invest in technology and media solution companies but I do believe Hello Curry’s concept has the potential to change the way quick service is perceived,” Reddi said. Hello Curry right now operates only in Hyderabad and is looking to expand in Bangalore and Chennai after one year of existing operations.

The other start ups SRI Capital has invested in include ‘imomentous’ that deals with talent engagement, ‘GIBSS’ which provide environment and socially friendly technology solutions and tech based education solutions maker ‘Edutor.’ The others in the portfolio include Banksmarts, Healthify, Oximity, Glassbeam, Koncierge MD and others.

“The largest ever investment we have made so far is in a Silicon Valley chip company, about Rs 12 crore,” he said. Out of the four companies that are ready for Series B funding, one is based in Hyderabad.

trushnaudgirkar

@mydigitalfc.com

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