Mumbai-based incubator and accelerator platform Venture Catalysts has launched the FamilyOffice, a network to connect startups with family-owned business houses and big corporates.
Venture Catalysts will be playing the role of a facilitator, extending support in identification, curation, diligence and post-investment procedures, it said in a statement.
FamilyOffice will enable its network members to invest in the most promising startups across sectors from the angel stage of funding to Series B.
“Through our business interactions, we realised a large number of legacy business houses wanted to take an active part in the startup ecosystem but were unsure where to start from. FamilyOffice will fill this need gap, guiding them in a sustained manner to ensure their investment decisions are optimised,” said Apoorv Ranjan Sharma, president and co-founder, Venture Catalysts.
FamilyOffice’s operations will be spread across Mumbai, Delhi, Hyderabad, London, Dubai and Singapore, Sharma added.
“For a family office, the right asset allocation is very important to maximise returns and reduce risk. Investing in the exciting new world of startups up to a certain percentage of wealth - say 5% to 15% - can improve overall returns,” said Atul Nishar, founder and chairman of Hexaware Technologies and a member of the executive council of Nasscom, the IT industry lobby.
Earlier this month, Venture Catalysts launched an accelerator platform 9Unicorns to identify the best ideas and early-stage startups from India.