PE-VC veterans have joined hands to launch SamVed VC to back early-stage startups in India. Separately, hospitality giant Oyo is said to be reviving its IPO plans.
SamVed VC targets $50m corpus for debut fund
PE-VC veterans from Bridgewater Associates, LetsVenture, and Info Edge, among others, have joined hands to launch SamVed VC to back early-stage startups in India in the areas of financial services, healthcare, agritech, e-commerce, and upskilling.
According to a report by The Economic Times, the firm will target a corpus of $50 million for its debut fund and park capital in the range of $80k-120k for early-stage startups, and $250k-$1 million for pre-Series A rounds.
The firm is eyeing the first close by March this year.
Among other investors which are betting big on early-stage startups, Accel closed a $650-million fund earlier this month, while Stellaris Venture Partners closed an investment vehicle at $300 million in November.
Oyo eyes IPO after two failed attempts
Hospitality giant Oyo is said to be reviving its IPO plans yet again after two aborted attempts earlier. The Gurugram-headquartered company is looking to file its draft red herring prospectus (DRHP) in the first quarter of FY25.
The development is significant as it marks Oyo’s third attempt to go public. The company first attempted to make its public market debut in 2021 and then last year.
Established in 2013, OYO operates in over 80 countries with its portfolio ranging from budget hotels to premium resorts. Apart from India, it is present in Southeast Asia and Europe, among others.
