Latest News | Tomorrow Capital to Invest Rs 100 Cr in Start-ups in Next 12 Months; to Exit Zenohealth

New Delhi, Nov 4 (PTI) Early stage investment fund Tomorrow Capital on Wednesday said it plans to invest Rs 100 crore in start-ups over the next 12 months.

The Mumbai-based fund also announced exit from Zenohealth, formerly Generico, two-and-a-half years after its investment in the company.

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"Having invested nearly Rs 100 crore over the last 3 years across 4 investments, which include Generico, Bonito Designs etc, they (Tomorrow Capital) have earmarked a further Rs 100 crore investment over the next 12 months in early stage consumer businesses," Tomorrow Capital said in a statement.

Tomorrow Capital first invested in Generico during its pre-series A round when it had just pivoted to an offline store model and started its first few stores.

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The fund invested a total of Rs 13 crore in Zenohealth, starting March 2018.

"The fund invested Rs 13 crore as a mix of debt and equity, and has made a 7.25 times return on the equity investment in a span of 2.5 years," Tomorrow Capital co-founder and CEO Rohini Prakash said.

Tomorrow Capital is exiting as part of a secondary round and will continue its focus on other similar early stage consumer opportunities, the statement said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)