Experienced Indian private equity investor Manish Kheterpal has reportedly launched a $15m early-stage investment fund focusing on tech startups in the country.
WaterBridge Ventures picked up commitments from family offices, high net worth individuals and companies, including domestic backers according to the Economic Times.
Kheterpal told the news outlet the firm planned to invest beween INR7.5m ($110,000) and INR35m ($515,000) in between 12 and 15 business, spanning areas including fintech, health, education and media technology startups.
The fund held a $5m first close, the report added.
Kheterpal was previously a director at Providence Equity Partners, principal at Actis and associated at Rho Capital Partners.
He began working as a managing partner at WaterBridge in January 2015, according to his profile on LinkedIn.
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