Delhi-based Scale Ventures that invests primarily in early-in-revenue start ups today announced that it has acquired portfolio of Delhi-based Guerrilla Ventures. Guerrilla Ventures is founded by Dr. Ritesh Malik, who is also founder of Y Combinator backed co-working space Innov8 located at Connaught Place, Delhi.
Scale Ventures announced today that they have formally signed an agreement to acquire Guerrilla Ventures. Till date, Guerrilla Ventures has funded over 21 startups including Asimov Robotics, Radix Healthcare, Harvin Academy, Fin, Innov8 and many more with an exit from seven startups.
Nilesh Rathi of Rathi Group of Companies and Rahul Narvekar, ex- CEO, IndianRoots, are founders at Scale Ventures. The fund is obtaining registration from SEBI under category 1 AIF for $16Mn (INR 100 Cr.) corpus.
In last two years, Rathi Ventures has invested in a number of small businesses in Pune. Both the founders started the company with same mindset of not just funding the start-ups but giving the right kind of mentorship which is far more vital at an early stage of a start up. Rahul and Nilesh are both batch mates from IIM-Calcutta.