B2B wealth mgmt co Finvolve to launch Rs.100-Cr angel fund

B2B (business-to-business) wealth management firm Finvolve will launch its first sector-agnostic category-1 angel fund aiming for a corpus of INR 100 crore. The fund will aim to invest about USD 1 million on average per startup over a span of two to two-and-a-half years. Finvolve is a joint venture between business consulting firm Finolutions LLP and the India Accelerator. Currently, it has around 140 wealth managers and plans to scale it to 600 wealth managers by the end of this calendar year. In terms of the mandates so far, it has raised funds for nine startups, ranging from an electric two-wheeler company to a manufacturing tech company to a food business or OTT platform.