New Delhi: Venture capital firm Synapse on Tuesday said it plans to launch a US$125 million (about Rs 1,040 crore) fund to invest in climate and health technology companies.
Founded by IIT alumni and experienced venture capitalists Ruchira Shukla and Karthi Chandrashekhar, Synapse aims to accelerate scientific ingenuity and commercialization by supporting early-stage startups that leverage STEM (Science Technology, Engineering and Mathematics) and IP (Intellectual Property). The gap between has to be bridged. Critical climate and health challenges.
Ruchira Shukla, co-founder and managing partner of Synapse, said the fund will be registered with SEBI under the Alternative Investment Fund Category-2 and will take a year or two to close the entire corpus.
“We will register a US$125 million fund with SEBI under AIF-2 this month,” he said.“We hope to raise it in a year or two.”
Shukla previously worked with International Finance Corporation for approximately 1 year, where he led the disruptive technology business in South Asia and facilitated investments in early-stage technology businesses.
Karthik Chandrasekhar, who is also the company's co-founder and managing partner, said climatetech and healthtech solutions need to sit at the intersection of STEM-innovation and solutions like agile as well as flexible, future-ready infrastructure . To be deployed on utility scale.
“Commercialization of innovations at this intersection is difficult and requires D sector immersion,” he said.“We are taking on this challenge because solving this complexity is what drives alpha and impact.”
According to the Climate Policy Initiative, India needs more than US$170 billion (about Rs 14.14 lakh crore) every year in climate finance to meet its Nationally Determined Contributions (NDCs) under its climate change commitments.
Founded by IIT alumni and experienced venture capitalists Ruchira Shukla and Karthi Chandrashekhar, Synapse aims to accelerate scientific ingenuity and commercialization by supporting early-stage startups that leverage STEM (Science Technology, Engineering and Mathematics) and IP (Intellectual Property). The gap between has to be bridged. Critical climate and health challenges.
Ruchira Shukla, co-founder and managing partner of Synapse, said the fund will be registered with SEBI under the Alternative Investment Fund Category-2 and will take a year or two to close the entire corpus.
“We will register a US$125 million fund with SEBI under AIF-2 this month,” he said.“We hope to raise it in a year or two.”
Shukla previously worked with International Finance Corporation for approximately 1 year, where he led the disruptive technology business in South Asia and facilitated investments in early-stage technology businesses.
Karthik Chandrasekhar, who is also the company's co-founder and managing partner, said climatetech and healthtech solutions need to sit at the intersection of STEM-innovation and solutions like agile as well as flexible, future-ready infrastructure . To be deployed on utility scale.
“Commercialization of innovations at this intersection is difficult and requires D sector immersion,” he said.“We are taking on this challenge because solving this complexity is what drives alpha and impact.”
According to the Climate Policy Initiative, India needs more than US$170 billion (about Rs 14.14 lakh crore) every year in climate finance to meet its Nationally Determined Contributions (NDCs) under its climate change commitments.
