Pine Labs CEO Amrish Rau, wife Sweta Rau, Jupiter's Jitendra Gupta float $40m fintech fund

Deal Street Asia - Pramugdha Mamgain, 26 January 2022

Pine Labs CEO Amrish Rau, along with his angel investor wife Sweta Rau, and neobank Jupiter’s co-founder Jitendra Gupta, have launched a fintech-focused fund with a corpus of $40 million (Rs 300 crore).

“Glad to announce launch of our fintech fund. Looking forward to partner with exceptional founders and operators: wanting to start their entrepreneurial journey and build innovative companies. We want to partner with you while you dream, build and scale!,” said Sweta Rau on Twitter on Tuesday.

The new fund, White Ventures, will be run by Sweta Rau as CEO. Meanwhile, Amrish Rau and Gupta will serve as limited partners and advisors.

The three have together pumped in about $15 million of their own capital in the fund, The Economic Times reported.

Other LPs in the fund include TVF Capital, Credit Saison, Sequoia India, Hummingbird Ventures, 3one4 Capital, Beenext Ventures and founders such as Beenext’s Teruhide Sato, CRED’s Kunal Shah, Ankur Warikoo, and Prajit Nanu.

Headquartered in Singapore, the fund will invest in fintech startups in India and Southeast Asia. According to a report in Moneycontrol, the fund will make angel investments in the range of $50,000 to $200,000, and could even go up to $4-5 million in some cases.

The trio has been actively investing in Indian startups. Their portfolio includes CRED, gaming startup MPL, neobank Open, digital ledger Khatabook, and hyperlocal delivery startup Dunzo.