VentureSoul Capital, an India-based investment firm, is looking to raise up to INR 600 crores ($35 million) for its maiden debt fund to invest in domestic startups.

The firm said in a statement on Monday that the tech focused structured debt fund has received support from marquee Anchor – Micro Labs ltd, a healthcare major.

Other notable investors being E Madhusudan (Founder – Kreditbee), Glen Appliances Ltd, PSN group, Abhishek Khemka (Promoter – Baazar Kolkata), Ponnuswami M (Pure Chemicals group).

With a target corpus of up to INR 600 crores ($36 million), this SEBI registered Category II AIF has so far received commitments from a mix of family offices, corporates, high net-worth individuals (HNIs) and other eminent investors.

The fund aims to differentiate the approach to providing debt solutions to the new economy space.

The founders’ vision is to create a sustainable, scalable organization that partners with the new age economy clients for growth capital and beyond.

Aiming to do a first close soon, the fund will invest in companies that are at Series A or beyond stage, with a demonstrated revenue model.

The sector agnostic fund will have a positive bias towards diversified fintech, business to consumer (B2C), business to business (B2B) and software as a service (SaaS) companies.

The firm was started by three ex-HSBC bankers – Anurag Tripathi, Ashish Gala and Kunal Wadhwa who have 65+ years of cumulative experience.

Having had the experience of successfully building businesses ground up for various domestic and international organizations, the partners launched VentureSoul with an aim to create a value-based enterprise with the tagline: ‘debt partners with a difference”.

VentureSoul aims to differentiate itself by blending prudent principles of banking with new age credit evaluation technology, delivering partnership approach for their portfolio companies and by specializing in providing tailor-made solutions.

Singapore based angel investment network ThinKuvate launches $12M maiden India fund