We Founder Circle’s GIFT City Fund has successfully raised $10 million and welcomed over 250 investors. This fund focuses on empowering startup investors to engage globally without constraints of geographical boundaries. The WFC Global Angels Fund seeks investments ranging from $50,000 to $1.5 million per funding round.
“Our goal is to onboard over 300 investors and secure contributions exceeding $15 million by March 2024. Success for the GIFT City Fund is measured by syndicates and investors consistently reinvesting, along with the accomplishments of the startups we support,” stated Gaurav VK Singhvi, Co-founder of We Founder Circle.
The total fund size, including the Green Shoe option, amounts to $60 million ($30 million in corpus with an additional $30 million green shoe option). Of this, WFC’s GIFT City Fund has successfully raised $10 million. This fund has already invested in six startups spanning artificial intelligence, space technology software, gamification, and healthcare.
“Our commitment is to offer investors diverse opportunities while adhering to regulatory requirements, ensuring compliance with AIF Regulations and relevant standards,” Singhvi added.
The GIFT City Fund aims to finalize over 10 deals by the fiscal year’s end. Despite an upper limit of $1.5 million per funding round set by the IFSCA, the Fund has established a minimum deal size of $50,000 for operational efficiency and financial viability.