Canada based Ryerson Futures Inc. & Chokhani Group to launch $15 Million Fund in India

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Ryerson Futures Inc. and the Chokhani Group are launching a fund of up to USD $15 Million (Rs. 82.5 crores approx) to invest in early stage technology businesses connected to Zone Startups India. The fund will seek to invest between $50,000 (Rs. 27,50,000 approx) and $500,000 (Rs. 2,75,00,000 approx) in 10-15 start-ups every year.

“We have been active making early stage investments, and have seen tremendous interest in the market to also participate as well,” says Anil Chokhani.  “Partnering with an existing accelerator allows us to leverage the benefits of a formalized program.”

This fund will make investments in highly scalable technology startups who are part of the Zone Startups India accelerator, and also will seek to find new startups to bring in to the program.  The fund will be raising capital from both Corporates and other high net worth individuals.

“We are seeing many great startups come through Zone Startups India, (our Accelerator Program in Mumbai); launching a fund to help rapidly advance these startups is a logical next step now that we have been able to establish a strong network in India with our partners,” says Matt Saunders, President of Ryerson Futures Inc.  “Teaming up with Anil and Kirshna Chockhani increases the size of our network and amount of capital that we can invest to scale innovative technology companies.”

zones

Chokhani Group

Anil Chokhani and Krishna Chokhani have been serial angel investors with Mumbai Angels and hold a deep interest in the startup ecosystem in India.   Chokhani Group is a family owned business comprised of multiple operating businesses with over 35 years experience working with many international companies in India. They also house 2 Non-Banking Financial Companies, (NBFC’s) which provide financial solutions to Corporate customers.

 

Zone Startups India

Started in February of 2014, Zone Startups India has incubated technology startups focused on data analytics, mobility, e-commerce, education, hardware, technology, human computing interface, mobile payments, healthcare and enabling platforms.  Its current portfolio startups includes Focus Analytics, Bug Clipper, Baby Chakra, Pykih, FOSengage, DrugIO, Intugine Technologies, ArtZolo, Underdogs Gaming Studio, BOOKstreet to name a few.  Zone Startups India works with up to 60 startups annually.

india.zonestartups.com

 

Ryerson Futures Inc.

Ryerson Futures Inc. (RFI) is an accelerator for early stage companies connected to the Digital Media Zone at Ryerson University.  RFI companies have raised over USD $22 million in the last year.

ryersonfutures.ca

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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