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Kissflow’s founder Suresh Sambandam launches MudhalVC for startups in TN

Business Line  

SaaS company Kissflow’s founder Suresh Sambandam has launched a venture capital (VC) fund called MudhalVC to promote entrepreneurship in Tamil Nadu. The fund will offer ‘adventure’ capital for idea-stage start-ups.MudhalVC’s is planning to invest close to INR 125 crore in two phases over the next 3-4 years. The phase 1 capital (of INR 25 crore) will come from family sources that take away significant risk off the table for phase 2 (INR 100 crore). MudhalVC plans to partner with limited partners after 2-3 years to make follow-on investments in the same start-ups.In the past 24 months, Sambandam has made investments in various companies, through ‘Idea pattarai’ accelerator and engaged with 1,000 founders through closed door workshops, leading to over 75 startups in various stages of mentorship. Fifteen of these startups have already raised investments from MudhalVC.MudhalVC’s investments range from INR 10 lakh to INR 1 crore, across food tech, electric vehicles, health tech, SaaS, and bio tech. The fund’s portfolio includes Amura, Bversity, BookingBee, MeenSatti, Mushroom MaMa, Pickmyad, Social Gallery, InspectionOne, Bad Boy, Correctmate and Trashbotics.