SEBI- approved AIF Category-2 fund, Mela Ventures has announced the first closing of its maiden fund MV Core Tech Fund-I. The SEBI- approved Category-2 AIF fund for early-stage companies that specifically targets for an Rs.200 Crore fund size. The company has already garnered Rs.130 crores in commitment from a coveted set of investors to mark its first close. The fund is backed by institutional investors, global technology leaders, and experienced startup investors.

Krishnakumar Natarajan, Managing Partner, Mela Ventures, says, "We are on a mission to build next-generation entrepreneurs out of India. Towards this mission, Mela Ventures will support early-stage companies using cutting edge technologies to build B2B solutions targeted at global enterprises. We are extremely excited to get such an overwhelming response from investors even during challenging times. This gives us confidence that we have the right mission and are here with the right strategy."

Parthasarathy N.S, Managing Partner, Mela Ventures, states, "Entrepreneurs continue to innovate and solve impactful problems for large enterprises. And they realize that beyond the funds, they can immensely benefit from the Expertise, Experience, and Empathy that we bring to the table. Many of our investors are technology professionals, who share the same passion as much as we do, for meaningful technology, startup community, and building Indian entrepreneurs. We look forward to this new and exciting journey."

Mela Ventures Trust is a SEBI-approved AIF Category-2 fund for the early-stage companies. It has the goal to build next-gen entrepreneurs, the fund would mainly focus on building a portfolio in areas such as IoT, AI/ML, AR/VR, Cloud Migration, and Deep Technologies.