We Founder Circle’s GIFT City Fund raises $10 million

Source: The Hindu Businessline

Early startup investment platform We Founder Circle’s GIFT City Fund, which focuses on offering startup investors the ability to invest globally without geographical restrictions, has raised $10 million and onboarded over 250 investors.

Further, it aims to anticipate an investment size ranging from a minimum of $50,000 to a maximum of $1.5 million per funding round. The fund raise size for the GIFT City Fund includes a corpus of $30 million with an additional green shoe option of $30 million, said the company.

So far, the fund has invested in six startups across various sectors, including artificial intelligence, space technology software, gamification, healthcare, and others.

The WFC Global Angels Fund’s core objectives align with the broader vision of GIFT City as a global financial and technological hub. The strategy of being sector-agnostic in early-stage startups suggests a focus on diversification and a willingness to explore opportunities across various industries.

Moreover, the fund intends to close up to 10 deals by the end of the current fiscal year. While IFSCA restricts the overall investment to $1.5 million per funding round with no minimum limit, it has strategically set a deal size minimum of $50,000 for operational and financial viability.

Gaurav VK Singhvi, co-founder of We Founder Circle, said, “We aim to complete the onboarding of at least more than 300 investors with a signed contribution of over $15 million by March 2024. For the GIFT City Fund, we measure our success by the syndicates who repeat their investments, by the investors who continue to invest with us via our fund, and by the success stories of the startups we invest in.”