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Fintech veterans Amrish Rau, Jitendra Gupta launch $40-M fund

Economic Times  

Pine Labs CEO Amrish Rau and neobank Jupiter's co-founder Jitendra Gupta have joined angel investor Sweta Rau (wife of Amrish Rau) to launch White Venture Capital with a corpus of USD 40 million. The fund will specialise in backing early-stage fintech startups in India and Southeast Asia. While Gupta and Amrish Rau, who earlier co-founded Citrus Pay that was acquired by Naspers in 2016, will serve as limited partners and advisors in White Venture, Sweta Rau will be its sole portfolio manager. The three have invested USD 15 million of their own in the fund. White Venture's LPs also include Sequoia Capital India, one of its largest sponsors. Japan's Credit Saison, TVF Capital, Hummingbird Ventures, and Cred founder Kunal Shah are among other names that have backed the fund. The new fund will write cheques of anywhere between USD 250,000 and USD 1 million and double down on its best performing bets with follow-on cheques totalling investments to the tune of USD 3-5 million