TLDR:
- New venture capital firm Synapses, co-founded by Ruchira Shukla and Karthik Chandrasekar, aims to invest in climate tech and health tech startups.
- The fund size is $125 million, focusing on STEM-led innovation to tackle climate and health challenges.
Synapses, a new venture capital firm, has been launched by IIT alumni and veteran investors Ruchira Shukla and Karthik Chandrasekar. The firm aims to invest in climate tech and health tech startups, with a fund size of $125 million. Synapses will support science, technology, engineering, and mathematics (STEM)-led innovation in addressing major problems related to climate and health.
The managing partner, Shukla, emphasized that the fund will focus on mitigating climate change, building resilience, and adaptation. The fund aims to invest in 25 startups with tested products that address challenges in these segments. Synapses plans to close the fund by October and expects fivefold to sevenfold returns at the fund level.
India is one of the core markets for Synapses, along with other South Asian economies. The firm also operates an incubator in partnership with NITI Aayog and a multi-year seed investment program. Shukla highlighted the importance of policy and regulation in fast-evolving spaces, noting the advantage of being based in Delhi for access to regulators and policymakers.
