InnerWave looks to surf on early-stage companies

BENGALURU:

InnerWave Ventures

, managed by corporate advisory firm InnerWave, plans to invest around Rs 18-20 crore in 18-20 startups in the next three years.

In addition, the parent corporate advisory firm InnerWave, which has expertise in fundraising, mergers and acquisitions, valuation and others, will also help startups with additional rounds, including investments from venture capitalists.

InnerWave

Ventures, which currently consist of a group of 32 angel investors, are looking to help early-stage startups and will be helping the startups with mentorship and expansion plans. The network consists of senior leaders from corporates like

Adobe

,

Microsoft

,

JP Morgan

and others.

Varun Dhingra and Jatin Tehri, founders of InnerWave Ventures, will be selecting the startups through a pre-screening process. The founders will then invest in the startup before connecting them to the other angel investors.

Talking to ETech on phone, Varun Dhingra, cofounder, InnerWave Ventures, said that that the firm will be sector and location agnostic."We are keen to fund startups from tier-II and tier-III cities as they do not get access to right mentorship and capital which kills many innovative ideas."

He added that the purpose of InnerWave Ventures is wealth Generation by investing in hidden gems after performing a three-stage screening process.

Jatin Tehri added, "The angels will make investment decisions based on the quality of the business proposal. The investment can come from a single angel or a group and it can range anywhere from Rs 1crore to Rs 1.5 crore."