BEENEXT, a Bangalore-based venture capital firm, have made waves in the Indian startup ecosystem with their $48 million investment in BhallaLivemint. This is BEENEXT’s inaugural investment within the country, following on from their announcement of a $450 million fund only weeks ago. Investing in India is becoming increasingly attractive to those in venture capital, clearly seeing the capacity for success in this market. In this blog post we are going to discuss what this shift signifies for the Indian startup ecosystem and how startups can use financial injections such as these to propel themselves ahead.
What is Beenext?
In early 2016, Manish Patel and Sanjay Nath founded Beenext, a Bangalore-based strategic venture capital firm that invests in early to mid-stage companies in India and Southeast Asia. In 2016, the company raised Rs.600 crore (US$84 million) in funding, while in 2018, it raised Rs.1,000 crore (US$140 million) in financing.
Bhallalivemint invests 450 million
In recent news, Bangalore-based M&A and strategic ventures firm benext has invested 450 million in BhallaLiveMint, a social media platform for stock trading and investment advice. Benext has made its first investment in an Indian startup, which comes as the country’s economy continues to grow rapidly.
Two IIT Bombay graduates, Rohan Sharma and Ankur Bansal, founded BhallaLiveMint in 2015. In addition to offering real-time stock market data and analysis, the platform also provides personalised investment advice from a team of experts. Users can also share tips and information through a social media-style feed.
Over 1 million users have downloaded the app since it was launched, making it one of the most popular finance apps in India.
As a result of this new funding, BhallaLiveMint plans to expand its user base and build out its team of experts, as well as continue to invest in technology to make its platform easier to use.
As an investor looking to invest in India’s burgeoning startup ecosystem, this is great news. With Benext’s backing, BhallaLiveMint is well positioned to continue its success in the years to come. The company has a strong product and strong growth potential.
Impact of Beenext on Indian Start-ups
Since 2015, Beenext has invested in over 80 Indian startups, including some of the most successful companies in the country, including Ola, Flipkart, and Swiggy.
One of the largest angel investor networks in the world, Indian Angel Network (IAN), was founded by Beenext’s managing partner, Sanjay Nath.
He has helped a number of young entrepreneurs grow their businesses as a mentor and advisor.
Beenext launched a $100 million fund to invest in early-stage startups in 2018. The fund has already made over 20 investments, including in Khatabook and Meesho.
In India, Beenext is one of the most active VC firms and has made a significant contribution to the startup ecosystem.
Beenext: What Does This Mean?
A group of Japanese investors raised $100 million (Rs. 665 crore) in March 2016 from Bangalore-based venture capital firm Beenext.
By investing in Beenext, Japanese investors now see the firm as a valuable investment. This could lead to more Japanese investment in Indian startups in the future.
In conclusion
BeNext, a Bangalore-based strategic venture, has just completed a major funding round totaling $450 million – setting a new record for India’s tech investments. This influx of capital will give the company the resources it needs to propel its expansion into new markets and geographies. The technology platform already in place has been instrumental in optimizing productivity for businesses large and small, but with this increased capital, BeNext is now poised to roll out additional offerings with even greater impact. We are eager to see what they have in store!
