ProfitBoard Ventures To Infuse $100 Mn Into Startups Through Consortium

ProfitBoard Ventures will bring its startup funding, deal structuring and merger and acquisitions activities to core focus

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By Prabhjeet Bhatla • Oct 10, 2020 Originally published Oct 10, 2020


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Taxmantra Global (TMG) has announced the launch of ProfitBoard Ventures to back technology-enabled startups in India and Southeast Asia.

Headquartered in Singapore, ProfitBoard Ventures is a growth-stage investment banking firm that will assist early- and growth-stage startups in fundraising through its consortium of investors. The firm has already on-boarded a group of global investors to inject USD100 million funding into selected startups in the next 18 months.

"Inadequate capital is the number one roadblock on the path to scale from the idea stage, this is where ProfitBoard Ventures will offer quality capital and much required hand-holding to early and growth-stage founders. Our medium term three-year goal is to nurture 100-plus startups from India and Southeast Asia," said ProfitBoard Ventures managing partner Alok Patnia.

ProfitBoard Ventures, TMG's standalone investment banking, and private investment arm, was created to bring its startup funding, deal structuring, and merger and acquisition activities to core focus.

The post-COVID scenario, however, looks bright for the startup ecosystem, especially for technology-enabled startups. Investments are expected to reach pre-COVID levels by the end of 2020. The median ticket size for seed and early-stage startups are expected to increase. With the shift towards digitization and remote working, deep tech, edtech, healthtech, AI (artificial intelligence)/ML (machine learning) startups would definitely have an edge.

TMG has assisted in over 100 deals in the last three years translating to about USD180 million funding in its existing portfolio of startups.

It is pertinent to note that by the end of the year 2019, India stood as the third-largest startup ecosystem in the world, with 26 unicorns. In the year 2020, COVID-19 became another blackswan event, with a decline in overall investments, especially in April to June 2020 -48 per cent year-over-year decline in funding. The decline was even more in early-stage and seed investments-a decrease of more than 50 per cent in Q2 (second quarter) of 2020.

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