JSW Ventures, the venture capital arm of the JSW Group, said on Thursday that it has received requisite clearances from capital markets regulator Securities and Exchange Board of India (Sebi) for investments in start-ups. JSW Holdings stock gained 15.39 percent on the BSE on Thursday to close at Rs. 1,285.15.
The company said in a press statement issued that it will provide early-stage funding to technology-enabled start-ups operating in the education, healthcare, financial services, SaaS and enterprise software space. The initial corpus will be Rs. 100 crore.
Parth Jindal, recently appointed Managing Director of JSW Cement, and Gaurav Sachdeva, Managing Partner of JSW Ventures, will be supervising the investments.
"As an early-stage fund, we will not only provide capital but will remain strong partners of our investee companies as they grow, leveraging the JSW Group's expertise and experience to help them blossom into world-class companies," Jindal said.
Sachdeva outlined the sectors in which JSW Ventures will be interested.
"We look at the team, product-market fit, scalability and technology innovation while assessing companies. Companies in e-commerce, education, healthcare, fintech, SaaS and enterprise software which provide differentiated products or service offerings are of interest to us," he said in the statement.
JSW Group has interests in steel, energy, infrastructure and cement business. The Group has three listed entities â€” JSW Steel, JSW Energy and JSW Holdings.