Mindtree founders' Mela Ventures raises Rs 130 crore as first close of maiden fund

Early stage venture capital fund Mela Ventures has announced the first close of Rs 130 cr of its maiden fund.The SEBI-approved Category-2 AIF fund targets a Rs 200 cr fund size and is backed by institutional investors and global technology leaders.The fund will focus on building a portfolio across areas such as artificial intelligence, machine learning, virtual reality, internet of things, cloud migration and deep technologies.

"We are on a mission to build next-generation entrepreneurs out of India. Towards this mission, Mela Ventures will support early-stage companies using cutting edge technologies to build B2B solutions targeting global enterprises. We are extremely excited to get such an overwhelming response from investors even during these challenging times," said Krishnakumar Natarajan, Managing Partner, Mela Ventures.

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