Mantra Capital, a cross-border early-stage venture capital fund, was launched on Wednesday. Three entrepreneurs, Jay Krishnan, Srikanth Chintalapati and Kevin Jacobs are launching the fund. It is a $60 million US-based fund and will focus on deep tech. The fund has already raised USD 24 million out of USD 60 million.
Chintalapati said in a statement, “Our target is to close our first fund by the end of 2020. Mantra Capital will be keen to invest in startups in sectors like foodtech and agritech that use technologies and processes that significantly impact humankind and are operationally intensive. So far, there have been very few innovations in the agriculture space, which forms the biggest chunk of the market. But we are seeing an influx of good quality startups that are creating solutions.”
Source: Economic Times
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