FundVice, which does investment banking and acts as a startup accelerator, has announced the launch of its India-focused sector-agnostic fund.
The fund, christened as Ryoma Ventures, will have an initial corpus of $11 million to accelerate startups. It plans to close the fundraising soon from its current set of investors and newer ones.
“We have seen exciting startups that are revenue-generating but lack the right support of investors. To support them, we took the decision to start this fund,” said Heena Arora, managing director at FundVice and Ryoma Ventures.
Recently, FundVice orchestrated a seed round for India’s first clean beauty marketplace Vanity Wagon.