Our current focus is on raising capital for the fund: Raguraman
Former India Innovation Fund COO, Ashwin Raguraman has joined Bharat Innovation Fund, a public-private-academia partnership backed by the Indian Institute of Management Ahmadabad (IIM Ahmadabad), as a venture partner.
A mechanical engineer with an MBA degree from Symbiosis Institute of Business Management, Ashwin has spent over five years with the Indian Innovation Fund. Speaking to a national daily Raguraman stated that his main objective at Bharat Innovation Fund would be to oversee its technology investments. “I am actively involved in many other aspects of the Fund’s activities. Our current focus is on raising capital for the fund and we are engaging with multiple entities ranging from Government departments to financial institutions and strategics,” he said.
Bharat Innovation Fund or the Bharat Fund is a $150 million early stage fund and was launched in early 2016. Besides IIM Ahmadabad’s Centre for Innovation Incubation, it is also supported by Infuse Ventures a venture capital fund with a focus on clean technology.
Kunal Upadhyay, chief executive, CIIE and Infuse Ventures stated, “We are delighted to have Ashwin Raguraman join the CIIE team- as we work towards building the Bharat Innovation Fund. Ashwin brings several years if IP-investing – which is a theme that we want to focus on at Bharat Innovation Fund. Ashwin’s experience and networks will help us identify, validate and de-risk highly innovative ventures solving tough problems in sectors like technology, agri, energy and health.”
“When I heard of the efforts being made with the fund under Bharat Innovations, they were closely aligned with my passion to catalyze cutting edge efforts out of India,” Raguraman said.
He added, “Investing in start ups is not a solo effort, and unlocking synergies with co-investors and downstream funds are important for the success of portfolio firms.”
He went on to state, “I believe that this space (Indian start up ecosystem) needs to be catalyzed with a dedicated early stage investment vehicle… Moreover, as this is an entrepreneurial effort given its early days yet, and a more ambitious one, it is challenging and therefore an attractive opportunity.”