The Hindu Business Line : Seed fund launched for IT ventures

Kolkata, Nov. 17 Kolkata-based company Seeders has launched a seed fund with an initial corpus of Rs 2 crore to finance new ventures in the IT space. The company provides initial funding and guidance to new start-ups.

“We are looking at funding new projects of an ideal size of Rs 5-20 lakh. Preference will be given to projects which uses internet as an enabler,” Mr Pallav Nadhani, Chief Gardener, Seeders, said here on the sidelines of a press conference.

The company was evaluating 25 proposals and was in final stage of negotiation for funding two projects, he said, adding that it was looking at taking a limited stakes in the new ventures.

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