The JSW Group announced it had got regulatory approval for financing of start-ups. JSW Ventures, venture capital arm of the group, got the permission from the Securities and Exchange Board of India, allowing it to begin investing.
The company will focus on providing early-stage funding to information technology-enabled start-ups in the education, health care, financial services, SaaS (software as a service) and enterprise software spaces. The initial corpus of Rs 100 crore would be invested over a three-year period. The fund will be overseen by Parth Jindal, recently appointed managing director of JSW Cement. Gaurav Sachdeva is the managing partner. “As an early-stage fund, we will not only provide capital but remain strong partners of our investee companies as they grow, leveraging the group’s expertise and experience to help them blossom into world-class companies,” he added.