Pulse Fund I, a Rs 1,000 crore Category II Alternative Investment Fund (AIF), has been introduced by BizDateUp. The fund has a base of Rs 500 crore and a greenshoe option of Rs 500 crore.
The fund states that it will allocate 20% to specific real estate projects, 30% to lucrative SMEs, and 50% to high-growth startups.
The fund is set up as a close-ended, 10-year instrument that can be extended by another two years. AI, SaaS, fintech, healthtech, deeptech, defense, aerospace, gaming, EV mobility, green energy, and regtech are some of the industries it will concentrate on. Opportunities in tier-II and tier-III cities will receive particular attention.
The fund, which is managed by a fund manager certified by NISM, also promises financial, legal, and compliance checks.
BizDateUp, an ecosystem enabler for startups founded by Jeet Chandan and Meet Jain, provides visionary entrepreneurs with comprehensive support services to propel them to the forefront of their respective industries. Startups are empowered by BizDateUp to question norms, develop novel solutions, and effect significant change in their industries.
In FY24, it raised a $10 million fund, invested in 1,000 angel investors, funded more than 25 startups, and gave its backers an average return of 3.5 times.
Within 24 months, BizDateUp intends to open parallel funds in Singapore, the United States, and Dubai as part of its global expansion strategy, with the goal of raising more than $1 billion in foreign funding for India’s innovation ecosystem.
An environmental impact startup that offers wet waste management services, Duro Green, was purchased by BizDateUp Technologies earlier in May of last year for a 20% stake.
