PR-Inside.com: 2021-11-15 06:00:11
The fund will focus on underrepresented talented founders in the FinTech and Deep Tech industries
LONDON, UK / ACCESSWIRE / November 15, 2021 / Two brothers Sagar and Sahil Chopra, established Simsan Ventures to address the lack of diversity and inclusion in the industry. The founders aim at supporting the best-underrepresented founders in creating industry-disrupting unicorns. The target fund size is £30,000,000.
“We understand that diversity yields performance and brings innovative value – that is why we seek to empower entrepreneurs who want to positively impact the society we live in. As such, fair access to capital is at the core of Simsan’s beliefs.” – stated the founders of Simsan Ventures.
While the UK is an amazing place full of proactive entrepreneurs from different cultures and backgrounds, Sahil and Sagar realize that numerous extremely talented founders don’t get the financial capital they deserve due to outdated mindsets.
“Diversity provides innovation which drives world-class teams in the business. However, many startup founders struggle to get through the door and into the room with key financial decision-makers. Most of them don’t have certain characteristics or profiles on paper, so they can’t make that jump from computer applications to in-person pitches. This, in turn, affects ecosystems, economies, the country as a whole as well as lives” – said Sagar, the co-founder of Simsan Ventures.
By addressing the diversity and inclusion challenge, Sahil and Sagar are planning to guide underrepresented founders who offer ground-breaking technologies – particularly in the Deep Tech sector. They believe that smoothing their journey in reaching their potential is key to improving the lives of many people by introducing the new scientific advances that prove to be the levers of change for our society.
According to Sahil and Sagar, venture capital in the UK is inequitable. First-time fund managers and new funds are still seen as taboo subject compared to the USA, where people start successful funds even while being in college. In the UK we are taught at a young age to get a specific degree from a Russell Group university and work for a corporate name for a few years before even pursuing a business or funding. Most people then stick to the 9-to-5 job and abandon their dreams as well as the potential of creating incredible businesses. It is also often the case when younger entrepreneurs are shut out due to their age and lack of corporate experience.
Besides, the brothers mentioned that women represent only 1% of VCs and all the bankers get the best jobs in London even though banking has nothing to do with VC.
“Currently, there is no representation of emerging venture capital in the UK. A fund like Simsan Ventures has the potential to lead the way for future first-time fund managers and be an example that funds can be raised by young enthusiastic professionals.” – mentioned Sahil, the co-founder of Simsan Ventures.
Furthermore, Sahil and Sagar also have a long-term vision to promote cross-country collaboration in the financial sphere. They are planning to launch three funds in the next decade: one in the UK, one in the ASEAN region, and the third one – is still to be decided. Recently, they have been speaking to international partners that can introduce them to highly talented founders in other countries. Being half British and Indian, the brothers visit India often and have a foothold there. Since the UK has a great relationship with India, having a fund that strengthens this bond by investing in entrepreneurs there and aiding them to access different markets cross-border is the brothers’ goal.
“We at Simsan believe that there are more exciting Tech startup ideas coming from underrepresented founders on the horizon. It is a perfect time to invest in them as they will positively change the way we live in this decade and beyond” – claims Sahil, the co-founder of Simsan Ventures.
About Simsan VenturesSimsan Ventures is a venture capital firm that invests in innovative early-stage FinTech and Deep Tech startups in the UK and Europe. Their mission is to unearth, invest in and partner with the best-underrepresented founders and support them in creating industry-disrupting businesses. https://simsanventures.com/.
SOURCE: Simsan Ventures