RPS Investment Fund, set up by SoftBank Investment Advisers managing partner Kabir Misra, is set to pick up stakes in social commerce startup Meesho and insurance provider Acko, two people familiar with the matter said.
Once closed, these will be Misra’s first investments in India. Mintreported in July that Misra was in advanced talks to set up a fund, which would make early- and mid-stage investments, primarily in the US, India and South-East Asia.
The USD 200-250 million fund counts SoftBank Group Corp. as the anchor limited partner.
“Raising funding is a continual process for any start up, as is the case with Acko. We are in discussion with multiple investors but there is no conclusive information to share at this stage. We will make a formal announcement if there is any development.” said an Acko spokesperson.
Source: Live Mint