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    Mantra Capital launches fund for tech startups

    Synopsis

    Mantra Capital will provide offshore venture services and managed services to global startups. Also, venture services will scout and curate U.S and Indian startups for corporate innovation scaling programs that will be launched in the second quarter of 2020.

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    The fund is designed for the scaling up of startups through its strategic partnerships with investors, global network, industry experience and market expertise.
    Mantra Capital, a cross-border early-stage venture capital fund, was launched on Wednesday. Three entrepreneurs, Jay Krishnan, Srikanth Chintalapati and Kevin Jacobs are launching the fund. It is a $60 million US-based fund and will focus on deep tech. The fund has already raised $24 million out of $60 million.

    Mantra Capital is scouting for startups in India and international markets like the US to make its initial investments. It is focused on investing in seed and pre-Series A round for startups which focus on food and agritech, circular economy and healthtech, among others. Startups with products and solutions that use advanced science and leading-edge technologies like artificial intelligence, machine learning, blockchain, photonics and robotics will attract the company’s funds.

    The fund is designed for the scaling up of startups through its strategic partnerships with investors, global network, industry experience and market expertise.

    Chintalapati said in a statement, “Our target is to close our first fund by the end of 2020. Mantra Capital will be keen to invest in startups in sectors like foodtech and agritech that use technologies and processes that significantly impact humankind and are operationally intensive. So far, there have been very few innovations in the agriculture space, which forms the biggest chunk of the market. But we are seeing an influx of good quality startups that are creating solutions.”

    Mantra Capital will provide offshore venture services and managed services to global startups. Also, venture services will scout and curate U.S and Indian startups for corporate innovation scaling programs that will be launched in the second quarter of 2020. Mantra Capital will be partnering with global corporates and global accelerators that will help startups’ Go-To-Market (GTM.) Managed services will help startups scale by providing help in design, marketing, manufacturing, channel creation, GTM and M&A through Mantra Capital’s managed services partner platform. It will also help startups in securing equity and cash-based strategic tie-ups.

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