Gray Matters Capital to set up fund for India

Gray Matters Capital, a US-based impact investment company, plans to set up a separate global fund for India.

In an interaction with DH, Gray Matters Capital India Chief Executive Officer Ragini Bajaj Chaudhary said India gives an immense opportunity for investors.

“We are planning a growth fund for India. It will be a global fund with a sizeable amount and will invest in Indian companies,” she said.

Over the last two decades, Gray Matters Capital has invested more than $150 million in Indian startups and one investment company.

“We started our investment in India with microfinance companies. As part of our 2020 strategy, whatever money we earned from microfinance and edu-tech companies will be redeployed in India,” she said.

Chaudhary said as part of the first edu-tech fund, Gray Matters Capital invested in seven companies ranging between $1 million and $11 million. Gray Matters Capital India is now looking at onboarding 10 companies this year with a small ticket size of Rs 1 core.

GMC Calibrator
 

The Atlanta-based impact investor on Friday held a demo day of eight startups as part of the Mobile EdTech Accelerator - GMC Calibrator.

“As part of the programme, we looked at the product with great content but very low uptick. We looked at their UX, UI and product design from a behavioural perspective and helped them to scale up,” she said.

Stones2Milestones became the winner of the GMC Calibrator 2018 and Million Sparks Foundation selected as a runnerup. The Second cohort will start receiving application till January. The focus is primarily on edu-tech and employability.