VCCircle

Seedfund launched its operations on Thursday. The early stage fund will have a corpus ranging from Rs 45-60 crore, and the money has come in from a host of institutional investors like Motorola Ventures, Reliance Capital and SVB Financial Group, Sierra Ventures and individual investors like Kanwal Rekhi, K B Chandrasekhar, B V Jagadeesh and Sridar Iyengar.

The fund will make investments upto $500,000 in a venture. The fund's managing partners are Pravin Gandhi and Bharati Jacob (ex-Infinity Venture Fund), and Mahesh Murthy (ex-Passionfund). They will be based out of Mumbai and Bangalore (looked after by Jacob).

Where will the fund invest? Jacob said in a statement: "Over the next few years, we hope to pick about 20 companies to invest in, and the sectors that interest us are consumer media and technology, internet, mobile, retail and other high-growth sectors."

It's a great initiative. All the best to the team.

By the way, here is a discussion on Seedfund and Mahesh Murthy.