ProfitBoard Ventures to infuse $100 million into startups through consortium

Taxmantra Global (TMG) has announced the launch of its standalone investment banking arm and private investment arm, ProfitBoard Ventures, to back technology enabled startups in India and South East Asia.

Headquartered in Singapore, ProfitBoard Ventures would assist early and growth stage startups in fundraising through its consortium of investors, TMG said in a statement.

"It has already onboarded a consortium of global investors to inject $100 million funding into selected startups in the next 18 months, it said.

Our medium term three-year goal is to nurture 100-plus startups from India and Southeast Asia, said AlokPatnia, the Managing Partner of ProfitBoard Ventures.

TMG has assisted in 100-plus deals in the last three years translating to about $180 million funding in its existing portfolio of startups, according to the statement.

Founded in 1983, TMG provides advisory, tax and regulatory services to global businesses with delivery centres in Singapore, New York, San Francisco, Los Angeles, Bengaluru, Mumbai, Kolkata, and Delhi, it was stated.