The Economic Times has some details on the investors (Limited Partners) of a new early stage fund called Seed Fund. The fund – approximately of $10-15 million – is founded by Mahesh Murthy (formerly of Passion Fund and currently running search marketing company Pinstorm), Pravin Gandhi and Bharati Jacob (both formerly of Infinity Ventures). But the trio has managed to convince the who is who of Silicon Valley to invest in their fund which will focus on very early stage ventures.
They include Kanwal Rekhi of Inventus Capital Partners, Ahok Narasimhan of July Systems, Naren Gupta, former CEO of WindRiver Systems, Sridhar Iyengar, President of TiE Silicon Valley, K B Chandrasekhar, chiarman e4e, B V Jaagadeesh, Group VP and GM at Citrix, and so on. It’s a very high risk capital since the fund is investing at a very early stage. It will put in money in the range of $250,000 to $0.8 million.
I had spoken to Mahesh Murthy sometime in November 2006. Then he told me that the focus is not to earn a huge management fee by raising a big fund. The idea is to invest in real start up capital. “We all do other things to make a living,” Murthy told me. Murthy is a man of ideas. He is also part of a collaborative co-production of a bollywood-hollywood movie called Betelnut Killers (see here).