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.
More Info: khaleejtimes