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Indo-US cross border VC firm SamVed targets to raise $50-M

Economic Times  

Amit Srivastava, a former investor at Ray Dalio's Bridgewater Associates (the world’s largest hedge fund), has launched SamVed VC, a USD 50 million early stage venture capital fund. The fund is co-founded by angel investment platform LetsVenture's founder Shanti Mohan, former Info Edge executive Vivek Khare and Silicon Valley-based tech executive Gagan Saksena. The fund will focus on backing startups across sectors such as financial services, healthcare, agritech, ecommerce, upskilling and ecommerce that are building for the socioeconomic group called India Two, which makes up the middle-income serving class.The fund’s limited partners would comprise US-based family offices, senior corporate executives with technical and financial expertise, and founders who have scored exits from their startups.SamVed has already backed three startups including a ventures building solutions for unorganised food vendors, a firm making smart vending machines with a focus on tier-II and tier-III cities, and a software platform for textile businesses.