UK-based VC firm JPIN sets up $20-M India-focussed fund

JPIN, a London-based venture capital company, has launched an India-focussed strategic fund, JPIN India Fund with a corpus of USD 20 million. The fund aims to back Indian startups and small and medium enterprises (SMEs) and help scale their business globally. The fund, which was raised in collaboration with Mastermind, is a Category 1 Alternative Investment Fund (AIF). It will be an industry-agnostic fund with a size of USD 13 million and USD 7 million as a greenshoe option.