To encourage the Indian start-up ecosystem, especially in the FinTech space, a clutch of veteran investors and top corporate leaders have launched India’s first iSAFE fund called 100X.VC.
iSAFE stands for India Simple Agreement for Future Equity, an alternative to a convertible security note. It helps avoid tedious documentation and cuts timelines significantly. The fund is sponsored by Mehta Ventures floated by well-known angel investor and serial entrepreneur Sanjay Mehta, to nurture innovative ideas that add value and bring solutions to a problem
According to a statement by 100X.VC, the fund is looking at investing about 100 startups in a span of one year. The fund aims to be the first institutional investor in its portfolio companies and will go beyond mere funding.
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