We Founder Circle’s Gift City Fund secures $10M for startup funding
The total fund size, including Green Shoe option, is $60 million (a corpus of $30 million with an additional green shoe option of $30 million), out of which WFC’s GIFT city fund has raised $10 million.
Early startup investment platform’s GIFT City Fund has raised $10 million and onboarded 250+ investors. It focuses on offering startup investors the ability to invest globally without geographical restrictions.
The WFC Global Angels Fund targets investments ranging from a minimum of $50,000 to a maximum of $1.5 million per funding round.
“We aim to complete the onboarding of at least 300+ investors with a signed contribution of over $15 million by March 2024. For the GIFT City Fund, we measure our success by the syndicates who repeat their investments, by the investors who continue to invest with us via our fund, and by the success stories of the startups we invest in,” says Gaurav VK Singhvi, Co-founder, We Founder Circle.
The total fund size, including the Green Shoe option, is $60 million (a corpus of $30 million with an additional green shoe option of $30 million), out of which WFC’s GIFT city fund has raised $10 million.
The Fund has invested in six startups across sectors such as artificial intelligence, space technology software, gamification, and healthcare, said a release by the company. The fund will also help navigate and overcome regulatory challenges, offering investors an approach to engage with the global startup ecosystem.
“We are committed to providing our investors with a diverse range of investment opportunities across various sectors while adhering to the AIF Regulations and other relevant regulations to ensure compliance,” added Singhvi.
The GIFT City Fund aims to close up to 10+ deals by the end of the current fiscal year. While the International Financial Services Centre Authority (IFSCA) has placed an upper limit of $1.5 million per funding round without a specified minimum, the Fund has established a minimum deal size of $50,000 for both operational efficiency and financial viability.
Edited by Megha Reddy