"The Morpheus Tritiya" fund, which brings diverse set of LP’s on board & aims to micro fund 60-70 startups for the next 3-4years.Morpheus Tritiya in a snapshot
Fund Size: It currently stands at 3.5 Crores and could go upto 4 or 5 crores, as we receive more confirmations.
Who are the LPs: Morpheus Tritiya has relevant set of LPs, all of who understand the startup scenario, the risks involved & will individually be of immense value to The Morpheus portfolio. We refer to them as ‘LP Gang or LPG’. Most of them are friends to Morpheus and bring additional strength to the team. Together we will continue to work on The Morpheus’ mission of helping many young & hungry startup founders in building globally competitive billion dollar businesses! We are proud of the fact that all LPs in our first fund have participated in this fund too, along with a set of new contributors.
Some of the LPs in the fund, mentioned with consent, are:
· Vijay Shekhar Sharma, Founder & Managing Director, One97 Communications Ltd., active super angel investor.
- Anand Ladsariya, Director & CEO Everest Flavors Ltd. (EVEREST), active angel investor with IAN & Mumbai Angels with over 18 investments in the last couple of years.
- Pallav Nadhani, Founder & CEO, Fusion Charts, one of the fastest growing global internet product company out of India, active angel investor.
- Ravi Srivastava, Managing Partner Purvi Capital, active angel investor.
- Saurabh Jindal, LP in Avishkaar & Morpheus Dwitiya, active angel investor with over 5 investments.
- Anil Pandey, active angel investor, investor in LifeMojo, Batch 2 Morpheus Company.
- Nitin Agarwal, successful entrepreneur with over 12 years of experience, active member of IAN & Mumbai Angels with over 18 investments in the last few years.
What does Morpheus LPs have to say:
Vijay Shekhar Sharma, Founder & Managing Director, One97 Communications Ltd. : “As Indian youth emerge from social restrictions of secure job-based career, we will see great startups coming out. Morpheus’ innovative accelerator program is a superb option for those who need lots of mentoring along with small capital. Sameer and Nandini have created a great framework to support these startups and create sustainable businesses.”
Anand Ladsariya, Director & CEO Everest Flavors Ltd. (EVEREST), an active angel investor with Mumbai Angels & Indian Angels Network: “Morpheus is the first and currently the only company in India which actively mentors young entrepreneurs to take their entrepreneurial dreams forward. They have created an ecosystem which fosters the growth of entrepreneurship in our country. We are looking to be an active part of the Morpheus’ ecosystem in order to mentor and handhold future entrepreneurs, providing them with guidance, support and capital.”
Pallav Nadhani,Founder & CEO, Fusion Charts: "I decided to invest in Morpheus because I like the way it operates. Hand-holding the aspiring entrepreneurs in what they call the "treacherous phase" is invaluable. Giving them little cash up-front teaches them how to stay lean, bootstrap and get money from the most important source - customers. Being a bootstrapped entrepreneur myself, I find this approach highly effective."
What will be the Morpheus model now: Nothing changes in the model. We will still follow the same accelerator model, where we select teams once in 6 months via call for applications and provide them with: 4 months of intensive engagement, induction into the exclusive Morpheus Gang (a community of 70+ portfolio founders, investors & partners), 5 L INR funding per startup & life long support. We run 2 Batches each year & can accommodate upto 10 startups per batch.
What happened to the previous fund: As part of Morpheus Dwititya, we had raised 95L and we have invested 80% of that, mostly into startups that were part of our batch 4 & 5, with the other 20% reserved for follow-on co-investments in our current portfolio.
The Morpheus Scorecard:
Letter to Stakeholders:
We wanted to document our experiences, intentions & workings in a document to share with our potential LPs, so that they get a clear picture of what The Morpheus is. An edited version of this “Letter to Stakeholder’s” that describes the philosophy & principals of The Morpheus & its team is available here for anyone who may be interested in reading it. (It’s a 16 page, PDF)
Calling for Applications:
The Morpheus Batch 6 will begin on June 15 and we are accepting applications from bright, young teams for the same. Last date is May 30. If you are interested "Know More & Apply”