India's Anthill Ventures Opens Tel Aviv Accelerator
Anthill Ventures plans to invest up to $1 million in Israeli startups with the goal of helping their expansion into Asian markets
Hyderabad, India-headquartered venture capital firm Anthill Ventures is set to open a startup accelerator in Tel Aviv, a person familiar with the matter told Calcalist on condition of anonymity. Anthill CEO Prasad Vanga confirmed the plan in an interview with Calcalist Tuesday.
Anthill has recently raised $10 million to fund the accelerator, and is looking to invest up to $1 million per company in startups with the potential of successfully entering Asian markets. As part of the program, selected startups will take part in a six months-long business development support and mentorship program. The new accelerator is being set up as part of a collaboration between Anthill and Indian law firm Shardul Amarchand Mangaldas & Co., and Tel Aviv law firm BBS Ben Porat, Beifus, Schwartz & Co.
Anthill Ventures CEO Prasad Vanga
“Israel has a dynamic community of entrepreneurs and we want to be a part of it,” Vanga told Calcalist, adding that the Indian market offers similar business potential to Israeli startups as the U.S. or China.
Founded in 2015, Anthill Ventures operates additional offices in Singapore and New York.