The sector agnostic fund known as the ‘WTFund’ will provide a grant of Rs 20 lakh, enabling founders to retain full fairness of their ventures. Alongside monetary assist, the fund will present entry to mentorship, help with go-to-market methods, beta testing, internship applications for expertise acquisition, and varied different alternatives.
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“In the present day, younger founders are inclined to create essentially the most impression inside entrepreneurship. At WTF, our objective is to domesticate a tradition that encourages younger entrepreneurs to embrace threat by offering a complete assist system. We’re excited to launch the fund and see the place it goes,” Kamath stated.
The event follows the pattern of influential founders transitioning into buyers, by supporting a number of home funds.
ET on April 15 reported that CaratLane founder Mithun Sacheti and Flipkart co-founder Binny Bansal have change into anchor restricted companions (LPs) in Bengaluru-based Xeed Ventures, an early-stage fund managed by Sailesh Tulshan.
A number of different entrepreneurs have additionally launched or backed funds, corresponding to Udaan’s Sujeet Kumar, Flipkart group CEO Kalyan Krishnamurthy (LPs in Tanglin Enterprise Companions), Freshworks’ Girish Mathrubootham, Amrish Rau of Pine Labs, Jitendra Gupta of Jupiter (LPs in White Enterprise Capital), and Mukesh Bansal of Myntra and Curefit who operates Meraki Labs.
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The WTFund will start accepting purposes from April 15 by means of its web site, aiming to put money into 40 younger founders. Chosen candidates will endure a screening course of and obtain assist till they safe their first institutional funding.This initiative is a part of Kamath’s broader ‘WTF is’ podcast sequence, which options discussions with trade consultants and enterprise leaders on funding and business-related matters.
