Former T-Hub CEO launches $60m VC fund for tech startups

Hyderabad: Former T-Hub CEO Jay Krishna has joined hands with entrepreneurs Srikanth Chintalapati and Kevin Jacobs to launch a US$60 million cross-border, early-stage venture capital fund, Mantra Capital, that will focus on deep tech for human good.
The fund, which has already raised US$ 24 million out of US$ 60 million, will focus on investing in seed and pre-Series A round startups with advanced solutions for human good.
Startups in sectors like food and agritech, circular economy and healthtech with products and solutions that use advanced science and leading-edge technologies like AI, ML, blockchain, photonics and robotics will attract its funds, Mantra Capital said.
While Jay Krishna will be heading the deal flow in India, handling product management and business development for portfolio startups and bringing in global partnerships, Srikanth Chintalapati will be responsible for supporting Indian portfolio startups in product development as well as scaling their operations and distribution in India. Kevin Jacobs will be handling the US deal flow, assessing the target startups, as well as managing exits or merger and acquisitions (M&A) of the portfolio companies.
“The fund will focus on scaling innovative solutions that have rapid acceleration potential and can solve problems locally with a massive global impact. We have started scouting for startups in India and international markets like US for initial investments and are already in advanced dialogue with a couple of startups,” said Jay Krishna, general partner-India, Mantra Capital.
“Our target is to close our first fund by the end of 2020,” said Srikanth Chintalapati, partner, Mantra Capital.
Mantra Capital will provide offshore venture services and managed services to global startups. As part of venture services it will scout and curate US and Indian startups for corporate innovation scaling programs that will be launched in the second quarter of 2020. It will also partner with global corporates and global accelerators to help startups Go-To-Market (GTM.)