Pine Labs’ Amrish Rau, Jupiter co-founder Jitendra Gupta partner Sweta Rau to launch $40 mn fund
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Pine Labs’ Amrish Rau, Jupiter co-founder Jitendra Gupta partner Sweta Rau to launch $40 mn fund

Pine Labs’ Amrish Rau, Jupiter co-founder Jitendra Gupta partner Sweta Rau to launch $40 mn fund
Credit: 123RF.com

Payment solutions provider Pine Labs Pvt Ltd's founder and CEO Amrish Rau, along with his angel investor wife Sweta Rau and neobank Jupiter’s co-founder Jitendra Gupta, will together launch White Ventures, said Sweta Rau on Twitter. 

White Ventures, a $40 million (around Rs 300 crore) fund, is also backed by other investors (limited partners)  such as TVF Capital, Credit Saison, Sequoia India, Hummingbird Ventures, 3one4 Capital, Beenext Ventures and founders including Beenext’s Teruhide Sato (Beenext), Kunal Shah (CRED), Ankur Warikoo, and Prajit Nanu.

"Glad to announce the launch of our fintech fund. Looking forward to partner with exceptional founders and operators: wanting to start their entrepreneurial journey and build innovative companies. We want to partner with you while you dream, build and scale," said Sweta Rau. 

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The fund will be focused on backing around 25-30 early-stage fintech startups in India and Southeast Asia. 

It will be run solely by Sweta Rau as the CEO of the fund. Meanwhile, Amrish Rau and Gupta will serve as limited partners and advisors, in addition to investing up to 15% of the fund. 

The fund’s angel investments would range from $50,000 to $200,000 and could invest as much as $4-5 million, according to a Moneycontrol report.

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Gupta and Amrish Rau’s existing portfolio includes Kunal Shah-owned CRED, gaming firm MPL, craft beer maker Bira, neobank Open, digital ledger firm Khatabook and delivery company Dunzo. 

Gupta and Amrish Rau, had earlier cofounded Citrus Pay which was acquired by Naspers in 2016. 

Amrish, wife Sweta Rau and Gupta together have invested around $15 million of their own capital in the fund, according to an Economic Times report.

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