Rs. 2 Crores Raised For Investment In Chennai Based Ventures

Rs. 2 crores has been pledged for investment in entrepreneurial ventures from Chennai by 10 investors, including President of TiE-Chennai chapter R.Ramaraj, Adi Saravanan, founding board member of Allsec Technologies, K.Pandiarajan, founder of Ma Foi consultants, Prabhakar Ram, founder of Newgen Imaging Systems, Praditpa K.Mohapatra, director on the main board of RPG group, Ram Mohan, director of Afilias India Private Limited, H.R.Srinivasan, prime founder of Take Solutions, and Suresh Kalpathi, chairman and CEO of SSI Limited [Source: the Hindu]. They’ve pledged Rs. 25 lakh each – Rs. 20 lakh for funding, and Rs. 5 lakh for entrepreneurship developmental programmes and meetings. Ramaraj, however, says that the fund isn’t going to be limited to just Internet or IT businesses. TiE Chennai expects the fund size to increase to around Rs. 50 crore.
But how much funding are entrepreneurs looking for? Some of whom I’ve spoken to in the past, tell me that most investors want to invest relatively large sums of money in early stage companies, while entrepreneurs aren’t really willing to dilute too much equity at low valuations.

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