Meenakshi Group, one of India’s leading IT Park developers and a diversified player based in Hyderabad, has announced the creation of $10 million ‘Meenakshi Multiples,’a startup fund to invest in promising startups.
Revealing the first investment Mahesh said, “Co-working space is interesting. It’s probably got a lot of attention recently, but what we like to seek out is the startup abilities such as iKeva to create the real value, and solve real specific wants or problems for customers.”
“We chose to invest in iKeva because of their ethos on building a sustainable business model, with the single focus on Customers and Service Delivery, which they have demonstrated consistently and have systems in place to ensure continuity,” Mahesh added.
To tap business opportunities, Meenakshi Multiples has in place a dedicated investment team comprising finance and legal professionals along with analysts. The group has already made investments in a few startups.
“The investment team will take up due diligence of startups including scaled-up businesses. Proptech and Co-Working hold a lot of promise, and is worth exploring among the scaled-up new-age businesses,” Mahesh stated.