Tomorrow Capital to invest Rs 100 cr in start-ups in next 12 months; to exit Zenohealth

Early stage investment fund Tomorrow Capital on Wednesday said it plans to invest Rs 100 crore in start-ups over the next 12 months.

Early stage investment fund Tomorrow Capital on Wednesday said it plans to invest Rs 100 crore in start-ups over the next 12 months. The Mumbai-based fund also announced exit from Zenohealth, formerly Generico, two-and-a-half years after its investment in the company.

"Having invested nearly Rs 100 crore over the last 3 years across 4 investments, which include Generico, Bonito Designs etc, they (Tomorrow Capital) have earmarked a further Rs 100 crore investment over the next 12 months in early stage consumer businesses," Tomorrow Capital said in a statement. Tomorrow Capital first invested in Generico during its pre-series A round when it had just pivoted to an offline store model and started its first few stores.

The fund invested a total of Rs 13 crore in Zenohealth, starting March 2018. "The fund invested Rs 13 crore as a mix of debt and equity, and has made a 7.25 times return on the equity investment in a span of 2.5 years," Tomorrow Capital co-founder and CEO Rohini Prakash said.

Tomorrow Capital is exiting as part of a secondary round and will continue its focus on other similar early stage consumer opportunities, the statement said..