Parampara partners with IDFC in startup investment space and turns into IDFC – Parampara6 years ago Shalini B
Parampara Capital, a VC firm located in Hyderabad and Mumbai has announced its successful partnering with IDFC Alternatives, the private equity arm of IDFC group.
This partnership is going to help Parampara Capital launch early stage funding opportunities for early stage startups. It aims to provide Series I seed funding for companies across sectors where technology, intellectual property and innovation play the role of primary differentiators.
“We continue to be excited about backing Indian entrepreneurs and our partnership with Parampara allows us to back entrepreneurs at an early stage. We are impressed with the founding team at Parampara and are confident that we will be able to achieve healthy returns as well as contribute effectively to the startup ecosystem,” Says the happy Managing Partner & CEO, IDFC.
In this partnership, Parampara Capital is the investment manager of the fund while IDFC will have a strategic commitment towards the funding. The funding amount planned as of now is Rs. 100 crore and IDFC will be an active participant in the Funds Investment Committee and Advisory Board.
Venkat Vallabhaneni, General Partner, Parampara Capital quoted, “We are very excited about our partnership with IDFC as the strategic investor in the fund. Their financial services expertise in India and particularly their private equity investment experience will add a lot of value and help IDFC-Parampara fund to become a leading technology early stage capital fund in India.”
“IDFC partnership will help the fund in identifying FinTech opportunities in India for investments and also extend IDFC’s domestic and global investor base interested in investing in the technology early stage capital space in India which has tremendous potential going forward.” Added Jatin Desal, General Partner, Parampara Capital.
With this new partnership, Parampara Capital is all pleased to announce that now they will be called IDFC – Parampara. This startup was founded in 2015 by Vallabhaneni, Desai and Sridhar Rampalli.