Mumbai-based venture debt marketplace to set up AIF for early-stage funding

A Mumbai-based venture debt marketplace is in the midst of setting up an Alternate Investment Fund (AIF) in India and raise USD 90 million for funding 100 startups in 10 countries as well as opening a Singapore office.

“The AIF, a private equity fund in India, will raise money from Indian investors for the Indian companies,” Mumbai-based 8vdx founder Ravi Chachra said on the sidelines of Singapore Fintech Festival.