This report comes to you after a gap of 7 months. While we have been sending you updates in various ways, the closing of YourNest Angel Fund – Scheme 1 and its related activities – have led to the missing of an interim report. Thank you for bearing with us.
We take this opportunity of thanking all our investors whose vision has enabled us to close our First Fund with a commitment of INR 83.40 crores (INR 834 million). YourNest is a tale in the making – a tale of the commitment of 145 visionaries, the support of 3 institutions, and of the dreams of India’s future.
‘From little acorns grow big oaks.’
And they grow at their pace – nourished by nature’s bounty. So too will our little startups grow into mighty corporations – with the nurturance, support, guidance, energy and effort of all the stakeholders. Each of them treads a path unknown. These entrepreneurs chucked up cushy jobs and opportunities in the forefront of creating a better future. They are our true heroes. They are the ones we bet on.
And this is a serious bet. In Q1 FY16 the number of deals received were 760 as compared to 260 a year ago. Of these very few passed muster and won our confidence. Since inception we have committed funds and support to only 7- and are in advance stage of investment assessment in another 5 – OpKey, InvenZone, BestDealFinance, Aahaa and MoMark in these 2 quarters bringing the portfolio companies to 12 within this calendar year –
- Opkey – Software testing automation platform that allows non-technical people to write effective automated tests while making testing 50% faster and 50% efficient from its current avatar.
- BestDealFinance – Company runs an online marketplace for financial products through which individuals & SMEs can find the best product for loan/credit requirements based on the matchmaking algorithm & integration with financial institutions.
- InvenZone – Building Artificial General Intelligence – ‘Arya’ to make information retrieval simple and easy.
- Aahaa – Online Office Superstore for all Indirect Product Purchases. Company offers corporate customers an easy and information-rich online ordering portal that features a catalogue of all indirect products they need on a yearly rate contract.
- MoMark – Company transforms offline merchants by capturing customer transactions, perform analysis, offer engagement and enrichment to consumers, without any IT at their end, while enabling them to compete with e-commerce like intelligence.
Going forward, there are some very exciting opportunities we are addressing at the moment in spaces such as Mobile Internet, Market Aggregation, and Internet-of-Things (IoT). These brilliant ideas with strong business plan and supported by strong teams are our likely future investments.
Out of the total Corpus of Rs.83.40 crores, we have committed nearly 60% to these 12 start-ups. We are well positioned to make additional commitments and achieving a strong portfolio of companies within the Capital Commitment period ending on March 31st, 2016.
Sunil K. Goyal
September 22, 2015