Fund News

Thyrocare founder A Velumani to invest Rs.50-Cr to back startups

Mint  

Thyrocare founder Dr Arokiaswamy Velumani has joined forces with Young Entrepreneurs Association (YEA) and Magnifiq Capital Trust to invest INR 50 crore in startups. Velumani would provide both financial backing and mentorship. He plans to handpick seed-stage startups with considerable growth potential, and target entities with at least INR 5 crore in turnover.Established in 2012, YEA is dedicated to nurturing an ecosystem conducive to growth, mentorship, and collaboration, as well as facilitating access to valuable resources, knowledge, and networks.

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