Canadian Terry Matthews Co-Launches C$10M India Startup Fund

Welsh-Canadian billionaire and technology entrepreneur Terry Matthews, founder of investment firm Wesley Clover International Corporation, has launched an India-focused startup fund in collaboration with Pune-based tech incubator, Ideas to Impacts Innovations Pvt. Ltd. The C$10 million fund will bring together Indian angel groups, industrialists and corporates, in addition to Wesley Clover and Ideas to Impacts. The fund will provide money for idea-stage and accelerator-stage startups in the business-to-business and software-as-a-service spaces, with investment deal sizes of up to C$750,000. Over the next five years, the company plans to support and mentor 30 startups, and will function out of a 32,000-sq-ft space in Pune.

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