Deepak Gupta, a former director at semiconductor manufacturer Intel’s corporate venturing unit Intel Capital, has launched a seed-stage venture capital firm targeting India-based startups, LiveMint has reported.
The firm, known as WEH Ventures, has a target fund size of Rs 400m ($6m) and plans to invest in technology startups. It will back companies working in emerging areas such as entertainment content, virtual reality, augmented reality and electronic vehicles.
Gupta was an investment director at Intel Capital between 2010 and 2014 before leaving for a stint as angel investor. Exits he was involved in at Intel Capital include digital product engineering and transformation specialist Sasken, and software consulting and technology services provider Future Soft.
WEH plans to provide funding for up to 20 startups. Its investments typically start at about $150,000, with money set aside for follow-on capital.
Gupta said: “We have raised the fund so far from many prominent chief experience officers, folks in senior positions at startups, a couple of family offices and some college alumni. We expect to hit final close in nine to 12 months.”