Starfish Growth Partners and Investpad launch joint fund to raise $100 million for early-stage startups: Report

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Starfish Growth Partners and Investpad on January 25 said they have launched a joint innovation fund called the Starfish Investpad Innovation Fund aimed at raising $100 million for early-stage startups over the next three years.

The fund will provide business incubation, capital, fundraising advice and growth acceleration services, senior executives of both companies told The Economic Times.

Starfish has a history in incubating over 25 startups and raising more than Rs 25 crore in funds for them, while Investpad provides critical capital.

Philip Thomas, founding partner and CEO, Starfish Growth Partners said the fund will invest “anywhere between Rs 25 lakh and $10 million in companies.” While not focused on any particular industry, the fund will likely pay attention to verticals such as agriculture, deep-tech, education, fin-tech, healthcare, manufacturing and sustainability, he added.

Noting that India is at a “nascent stage in homegrown businesses, which are making a mark globally,” Thomas said capital and the “right support system” will help them navigate everyday challenges.

“We believe in evaluating every idea on the same baseline – potential to make a real-world impact at scale, technology immersion and addressing clear market gaps,” he added.

Investpad CEO Sai Abhishek Rayarao said the idea behind the fund is to “allow our entrepreneurs to thrive”, as despite being a “buzzword for many years”, many startup founders still have to rely on friends and family for starting capital.

“We want to bring a seismic shift in the confidence level of deserving founders to bring their ideas to life,” Rayarao said.