Tomorrow Capital earmarks Rs 200 crore fund for startups
New Delhi: Tomorrow Capital on Wednesday said it is scouting for investment opportunities and has set aside Rs Rs 200 crore that will be deployed over the next 12 months.
The Mumbai-based company said it has also led a Rs 47 crore series A round in global education platform, Leverage Ed-tech. This is Tomorrow Capital’s second investment in the education space within a month after BeyondSkool.
“Tomorrow Capital focuses on helping consumer start-ups with long-term capital, operational support, industry networks, and access to resources,” Tomorrow Capital Chief Executive Officer Rohini Prakash said.
On the investment in Leverage Ed-tech, Prakash said the company looked at the education space as one where large home-grown consumer brands will drive the market for the long term.
Previously, Tomorrow Capital had invested $2 million in BeyondSkool, a live, online co-curricular upskilling academy for children.
Including the latest investment, Tomorrow Capital has invested nearly Rs 100 crore over the last three years in five early-stage start-ups. The other investments are in Bonito Designs (tech enabled home interior design and execution firm) and Multiliving Technologies, a home management platform. Tomorrow Capital recently exited from ZenoHealth (previously Generico) – a pharmacy chain selling low-cost generic drugs, at an over 7x return in just 2 years.
