Exclusive: Aroa Ventures earmarks Rs 100 crore for investments; Stockal grabs first cheque
Summary
The mandate is to fully deploy the pool of capital by the middle of this year, Gaurav Gulati, founder of ScaleX, told TechCircle. ScaleX has identified 10 startup investment opportunities and is in the final stages of closing these transactions, which would exhaust upwards of Rs 50 crore or half of the committed capital pool. The capital in the pre-Series A round will be used to strengthen its technology infrastructure and launch mobile apps for growing the direct consumer base. It first raised capital from Helion Venture Partners CFO R Natarajan, Copal Amba founder Mohan Alexander in 2015 and later received funds from former COO and CFO of RNT capital Advisers R. Natarajan, Vikrant Varshney of SucSEED Venture Partners and New York-based investment banker and portfolio manager Amit Sinha. ScaleX follows a sector agnostic approach to investments, but focuses on founders that leverage technology to enable and scale their businesses.