USA based venture capital firm, 500 Startups is in the process of raising USD 20 million (approx 120 Crores) for its India fund, Startupwallah to make it fully operational.
As per report, 500 Startups planning to offer Rs 30-60 lakhs to Indian startup companies with initial equity stake of 7%.
500 startup is a venture capital fund firm based out of San Francisco, USA. It’s started operation in the year 2010 by former Paypal executive David Paul McClure.
Since 2010, 500 Startup has accelerated more than 1000 start-ups across 50 counties which includes careerdean, Lish, Fibeeread, Loveroom, Womply, AGFUNDER and Silverpush.
In india they have investments in Startup companies like ZipDial, PriceBaba, myGola, Teliportme, Instamojo, TradeBriefs and CucumberTown.
Now, India is one of the strongly growing markets which has caught attention of many foreign investors and venture capital firms like Japan based Softbank, USA based Tiger Global and China based Alibaba.
500 Startups had hired Delhi based mentor Pankaj Jain to focus on Indian startups and community building in the country.