TiE Mumbai will invest seed capital across 25 startups by March 2019: Atul Nishar

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26 Aug, 2025 12:21

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The Indus Entrepreneurs (TiE) Mumbai, which roped in Atul Nishar, chairman of Hexaware Technologies, as its president on Wednesday plans to invest seed capital across at least 25 startups by the end of the financial year.

Founded in 1992 in Silicon Valley, TiE supports entrepreneurs by offering networking and mentorship. It recently also started investing in startups. This investment will be done by the charter members of TiE Mumbai.

The size of these investments would range between Rs 2 crore and Rs 5 crore.

"We believe we will be able to fund at least 25 startups directly. Besides this, for 200-300 startups, we will be able to play a very important role in connecting them to investors," Nishar told Moneycontrol.

TiE Mumbai organises events and workshops which enables startups to connect with investors. It has conducted over 120 events and workshops so far.

Along with Nishar,  Ranu Vohra, co-founder and chief executive officer (CEO) at Avendus Capital Advisors, Ashish Hemrajani, founder and CEO at BookMyShow, Anupam Mittal, founder and CEO at Shaadi.com, Motilal Oswal and Arihant Patni, MD at Nirvana Ventures Advisors will also be joining the board at TiE.

TiE Mumbai currently represents over 2,500 startups in the Greater Mumbai Region. It claims to have connected and mentored over 2,000 entrepreneurs and startups over the last few years.

Nishar also said the aim would be to make Mumbai the new startup capital of India. "We have large number of angel investors, family offices, corporate offices in Mumbai. All the financial giants and regulators are also based in Mumbai," he said, adding that it would give startups a 360-degree exposure in terms of an ecosystem.

According to reports, till June last year, National Capital Region (NCR) was ahead of Bangalore in terms of number of funding deals and total fund raised by the startups.

While the startups in NCR raised around $3.35 billion across 138 deals, Bangalore startups raised $2.56 billion from 129 deals.

Mumbai was a distant third with around 87 deals.