22 Jan 2019 article published on INC42.
Hyderabad-headquartered IT park developers Meenakshi Group has announced the launch of its venture fund, Meenakshi Multiples Startup Fund to invest $10 Mn (INR 71.39 Cr) in promising startups.
The firm has made its first investment in Hyderabad based co-working startup iKeva for an undisclosed amount picking up 6% equity stake as part of the deal.
Founded in 2012, iKeva is a coworking space provider with the community and member benefits. It offers high-quality office infrastructure, with solutions designed to make work-life productive, efficient and fun-filled.
We chose to invest in iKeva because of their ethos on building a sustainable business model, with the single focus on customers and service delivery, which they have demonstrated consistently and have systems in place to ensure continuity,” Katragadda said.
Katragadda explained that the company will seek out startups like iKeva creating the real value, and solve real specific wants or problems for customers.