Suresh Sambandam of Kissflow Introduces Mudhal VC

Nitin Konde, Apoorva Bajj

Sep 30, 2024 — 2 min read

Suresh Sambandam of Kissflow Introduces Mudhal VC

The CEO and creator of Software-as-a-Service (SaaS) company Kissflow, Suresh Sambandam, announced the creation of the MudhalVC fund on 26 September 2024. The fund will provide funding to Tamil Nadu-based idea-stage firms, with an emphasis on those originating from Tier 2 and Tier 3 locations.

As of now, the investment company has made investments in a wide range of industries, including biotech, food technology, electric cars, health technology, and SaaS. It currently has a portfolio of about fifteen firms, including Amura, Bversity, BookingBee, MeenSatti, Mushroom MaMa, Pickmyad, Social Gallery, InspectionOne, Bad Boy, Correctmate, and Trashbotics.

Sambandam announced the plan to establish a sector-neutral YCombinator in Tamil Nadu during the launch event in Chennai. The YCombinator will exclusively invest in startups originating from Tamil Nadu.

Coach First, Capital Second

With its 'Coach first, Capital second' philosophy, venture capital (VC) offers not just the seed money required to get started, but also the networks, mentorship, and strategic counsel required to grow and be successful globally.

As per Sambandam's explanation, the fund's initial phase will focus on 'concept stage' firms, with money from the family office totaling approximately INR 25 crores, which would cover approximately 50 companies. Fifteen businesses have gotten funding under the first round so far.

VC Planning to Invest INR 125 Crores

According to the official announcement, over the next three to four years, VC plans to invest almost INR 125 crores in two phases. Sambandam went on to say that in phase one, cash comes from family sources, removing a large amount of risk from the table for phase two. "Although we are not currently seeking funds from Limited Partners (LPs), we intend to collaborate with LPs in the next two to three years to make additional investments in the same startups, emulating the Silicon Valley's YCombinator model," he continued.

The fund includes investments ranging from INR 10 lakhs to INR 1 crore. Sambandam stated that the 'Idea Pattarai' accelerator has conducted closed-door workshops with 1000 founders over the past two years, leading to the mentoring of over 75 firms at various stages.

The occasion also marked the debut of the Bad Boy electric super trike, one of the fund's flagship investments. It is a two-seater, totally electric vehicle that can reach 100 km/h in less than 4.5 seconds. Its maximum speed is 200 km/h, and its range is 400 kilometers on a single charge.

The Bad Boy's 45-degree tilting system, which offers better agility and control when cornering, is one of its best features. According to a statement from the fund, this innovation makes sure the trike hugs curves and gives the rider a dynamic, motorcycle-like driving experience.