[Funding alert] Equanimity Ventures invests undisclosed Pre-Series A round in SEAL Professional
Mumbai-based venture capital fund Equanimity Ventures has made an undisclosed amount of investment in the Pre-Series A round in Bayside Media Private Limited, which operates a flagship management training programme called SEAL Professional. The company said funds will be used to support programme development and marketing.
The investment will also enable Bayside to focus on its two key areas such as product innovation and geographical expansion.
Rajesh Sehgal, Managing Partner, Equanimity Ventures, said,
“Lack of skilled workforce has been a key concern for employers in India. SEAL Professional is a great effort by Shyaam Santhakumar and his team to systematically train undergraduate students preparing them for the real-world job market. We believe this is a pertinent problem being solved at a scale which can transform the lives of students and employment in India”.
Set up in 2016, SEAL trains undergraduate students in management and leadership skills, and helps them with internships and first placements. Over 4,000 SEALers have gone through the course and over 1,800 have been placed across companies including Flipkart, Aditya Birla, Zara, Calvin Klein, and many more, the company said.
Founded in 2017 by former Franklin Templeton Investment senior executive Rajesh Sehgal, Equanimity Ventures is investing in capital efficient, technology enabled, and early-stage tech startups that create a sustainable and scalable model. Some of its prior investments include food startup Samosa Singh, retail technology company Peel-Works, agritech firm Fresh VnF, online parenting platform BabyChakra, etc. Its cheque sizes range from $500,000 to $3 million.
In February 2018, Equanimity marked the first close of its debut fund at Rs 70 crore ($10.8 million). The fund has a target corpus of Rs 200 crore, including a greenshoe option of Rs 100 crore. The fund is sector-agnostic but plans to back Indian startups in sectors such as fintech, healthtech and data analytics.
(Edited by Megha Reddy)