Private Equity

Fund News

Pontaq to serve as cornerstone investor for STPI's Rs.120-Cr India debut fund

Business Standard  

Pontaq, a cross border innovation fund investing in early-stage technology businesses across UK and India, will serve as a cornerstone investor for Software Technology Parks of India's (STPI) India debut “Next Generation Incubation Scheme” (NGIS) fund. It will be the fund manager for the total corpus of INR 120 crore under NGIS. The initial fund of INR 60 crore of STPI/STPINEXT will be invested into 300 select startups. Pontaq will raise the matching corpus of INR 60 crore and make follow-on investments into the start-ups (estimated to be 150 out of initially invested 300) which successfully demonstrate possibilities of commercial success with a market ready product.