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Hyderabad-based early-stage technology-focused venture capital firm Silver Needle Ventures invests INR 2 crore to INR 4 crore into early-stage revenue-generating technology-based/enabled startups.
According to Ajay Jain, Managing Partner of SNV, the idea is to invest in about 18 startups through Fund 1 (which is an INR 100 crore fund launched in 2022), with 30% of the money reserved for follow-on capital.
Launched in 2022 by Ajay Jain and Deepesh Agarwal, SNV areas of focus include sectors like B2B SaaS, fintech, and deeper technologies, including generative AI and spacetech.
Jain has a decade of investment experience in startups, and it has been immensely satisfying, filled with fun and learning. “Previously, I used to invest under Xseed Partners, and now we have Silver Needle Ventures (SNV), a SEBI-registered angel fund,” he shares.
So far, SNV has made 13 investments, which include exciting startups such as Dhruva Space, OnFinance, hypergro.ai, Disprz, SuperK, Samaaro, and others.
“We look to invest in 4-6 startups in FY 24–25 while looking to reinvest in some of our existing portfolio companies,” says Jain.
“We are a hands-on fund; we work closely to grow firms in addition to connecting them to next-level investors and markets. While several of the portfolio companies have received direct assistance, Hypergro, OnFinance, and Voiceowl are among the ones with which we are actively involved,” he emphasises.
States:
- Portfolio size: 13 Companies
- Average ticket size/sweet spot: INR 2-4 Cr
- Total number of exits: None (through this fund, 7 previously)
- Total assets under management: INR 80 Cr
