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Fintech-focused Aagama Ventures floats Rs.400-Cr Fund
Fintech-focused Aagama Ventures has launched an INR 400 crore (around USD 45 million) fund to back early-stage startups. The fund has received commitments from financial services veterans and fintech founders, including Mayang Goyal (founder of MoneyHop), Naveen Kukreja (co-founder of Paisabazaar), Bhavesh Gupta (former COO of Paytm), and Abhijit Singh (HDFC Bank). Institutional investors and family offices are also expected to participate in the fund. Aagama Ventures was launched earlier this year by Shubhanga Prasad, Abhishant Pant, and Pankaj Singh. The fund plans to invest in 15 to 20 startups, making 4-5 investments annually, with about 50% of the corpus reserved for follow-on investments. The firm intends to participate in seed to Series A rounds, with a ticket size ranging from INR 8 crore to INR 15 crore. The fund will concentrate on three key sub-sectors within fintech: payments, banking, and lending-focused businesses; fintech ventures leveraging technologies such as AI, data engineering, and cybersecurity; and startups offering tailored financial services products for specific sectors like agriculture, health, and energy.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.