Tuesday, September 4, 2018 by Wissam Otaky (Hatcher+) 910 Views
Our first foray into India!
I'm delighted to announce our latest partnership and our first foray into the Indian startup ecosystem. We have officially partnered with thinQbate, a Mumbai-based incubator, to provide additional capital to its portfolio companies as well as use our proven AI-based platform to assist in assessing candidates and tracking performance. Portfolio companies, starting from the second cohort, will also have access to the extensive Hatcher+ network, enabling soft landing across different geographies. Through this partnership, companies will each receive up to USD 100,000 in funding from thinQbate and Hatcher+, along with an opportunity for follow-on funding.
ThinQbate is our first partner in India. The deal is part of our larger global plan, as we look to invest in startups across multiple territories by partnering with sector and geography champions within the startup ecosystem. Together, thinQbate and Hatcher+ will invest in 20 startups over the next three years.
Pranav Marwah, founding partner at thinQbate, who is excited about this partnership says, “Hatcher+ is a notable player in the global market and we are thrilled to be their first partners in India. Working with Hatcher+ will exponentially increase the infrastructure and network we can bring to our portfolio companies, as well as significantly add to the size of our capital contribution. thinQbate’s investment ethos has always been about bringing strategic value to our portfolio companies, rather than only capital, and our partnership with Hatcher+ will help us further this goal.”
Sauvik Banerjjee (CTO, TATACLiQ and VP Digital Initiatives at Tata Industries) who acts as an advisor to the thinQbate founding team is also enthusiastic about thinQbate’s prospects. “The cornerstone of thinQbate’s model is to encourage sustainable growth, and the organization has made tremendous progress since its inception just two short years ago. I am excited by the opportunities a partnership with Hatcher will bring for the young and dynamic team at thinQbate.”
ThinQbate is in our view, one of the leading early stage investment and incubation programs in India. We look forward to co-investing with them in their exciting start-ups!
Prior to joining Hatcher as Group CFO and now Partner, Wissam served as the CFO of MarkaVIP, at the time the Middle East’s top fashion & lifestyle ecommerce business. Wissam previously spent 5 years with Dubai Contracting Company in multiple roles, including working as the company’s Business Development Manager and Group Financial Advisor, handling multiple acquisitions and greenfield projects, and leading the company’s efforts in Jordan and KSA. He co-founded 2 startups early on in his career in Montreal, Canada and is now is an active angel investor and advisor to startups. Wissam holds a Bachelor of Commerce degree from McGill University with a double major in Finance and Economics and a minor in Statistics, which he earned with first class honors in 2002, and has been a chartered financial analyst since 2006.
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