The VC Circle blog has just posted information about a new venture capital fund launched by a Pune based association – Indian STEP and Business Incubators Association (ISBA). ISBA is an association of startup/business incubators, incubatee startups, and other people interested in this ecosystem.
The fund will focus on sector-agnostic investments in companies with no proven track record.
Arihant Group, a company engaged in steel manufacturing in Pune, has contributed a major chunk to this fund while the other investor in the fund is Mumbai-based Adventa Infratructure Pvt Ltd.
The fund looks at an average investment of Rs 2.5 crore, and expects equity stake somewhere between 5% and 30% in investee companie
The ISBA was set up in 2004 and aims to promote business incubation activities in the country through exchange of information, sharing of experience, and other networking assistance among Indian Business Incubators, Science and Technology Entrepreneurs Parks (STEPs) and other related organizations engaged in the promotion of start-up enterprises.
These are the planned activities of ISBA:
|»||Provide advice on finding out the requirements and conditions for starting an incubator, creating business plan, recruiting incubator managers, and incubator development issues;|
|»||Maintain and update a data base containing the contact information of business incubation experts;|
|»||Lobby for Indian incubators at national and international levels;|
|»||To organize workshops, conferences, seminars, or training services;|
|»||Publish a newsletter;|
|»||To organize media conferences and other activities to create awareness about the incubator programme and get public participation;|
For more information about ISBA, see it’s website.