Singapore-based venture capital firm Prestellar Ventures, today announces the launch of $100M VC fund backed by four general partners (‘GPs’) – CG Corp Global (Nepal’s sole Forbes-listed billion-dollar enterprise), Satin Creditcare, Frontline Strategy (a private-equity firm in Mauritius) and N.E. Group (a family conglomerate in Nepal). The firm is backed by Binod Chaudhary (the sole Nepalese Forbes Billionaire) Satin Creditcare, N.E. Group, and Frontline Strategy.
The fund seeks to partner with passionate entrepreneurs and disruptive startups across South Asia and ASEAN in the Hospitality, Consumer, Financial Services, Rural Product and Services sectors, typically in ‘Pre-Series A’ deals with a cheque size of approximately $2-3 million. The firm is seeking to raise and deploy country specific sub-funds across the South Asia region-more specifically India, Sri Lanka, Bangladesh and Nepal.
“Investing in the forefront of innovation is critical to keeping traditional businesses such as CG Corp Global relevant in the future” said Binod Chaudhary, Director of Prestellar Ventures and the Chairman of CG Corp Global.
In addition to traditional value-adds provided by Institutional Investors such as mentoring and strategy guidance, Prestellar Ventures also provides companies with business development / sales opportunities using the reach of the GPs. More specifically, the General Partner companies of Prestellar Ventures provides portfolio companies access to over 100 brands, 14,000 employees, 150 hotels and resorts across the world, a publicly-listed bank, FMCG products selling over a billion units per year, and a distribution network with direct access to over 2.5 million rural households across India. With over 40 years of operational experience in frontier markets, the GPs of Prestellar Ventures also specialize in helping companies enter territories such as India, Nepal, Sri Lanka and Bangladesh by matching startups with on-the-ground partners to execute their go-to-market strategy effectively. Some of the past private equity investments made by the GPs include Astra Microwave, CBay Systems, e-Reasoning, and Tejas Networks.
Prestellar Ventures also counts amongst its ranks a list of stellar advisory and entrepreneurial board members including Raman Roy (Chairman, NASSCOM), Richard Collier Keywood (Former Vice-Chairman PwC Network) and Kesri Kapur (Group CEO, Americana Group) amongst others. The advisory and entrepreneurial boards provide Prestellar Ventures and portfolio company management with their network as well as strategy and operational guidance.