Baanhem Ventures Raises Fresh Funding of INR 33 Million from Mudhal Partners founded by Mr. Kumar Vembu
· Company stays committed to being a pillar of Investment to first-generation (Mudhal) & native entrepreneurs in taking risks
Chennai, November 20, 2024: Adding to Tamil Nadu's illustrious strides toward achieving its dream of a $1 Trillion economy, Baanhem Ventures, the makers of Startup Thamizha, has raised fresh funding of INR 33 million from Tech leader Mr. Kumar Vembu through his newly established investment firm, "Mudhal Partners". Founded earlier this year by Hemachandran L. and Balachandar R., Baanhem Ventures, now invested by Kumar Vembu, aims to identify, build, and foster first-generation native entrepreneurs from Tamil Nadu as next-gen innovators and job creators with a strong sense of purpose. The company's maiden flagship business reality TV show StartUp Thamizha, has already secured a commitment of over INR 200+ crores investment for Startups for 3 seasons from various industry leaders.
The show aims to showcase a stellar line-up of first-generation entrepreneurs at seed and growth stages, exclusively from Tamil Nadu. It will also act as a catalyst to promote a shift in mindset of HNIs to invest in startups, encouraging aspiring first-generation entrepreneurs to embrace new ideas and build businesses that can drive both people and economic improvement in the state.
Commenting on establishing Mudhal Partners, Mr. Kumar Vembu said, "I was impressed by Baanhem's vision to specifically develop first-generation & native entrepreneurs from Tamil Nadu for the future, and their (Baanhem's) scientific-approach to produce successful start-ups. It is for this very reason that I decided to be the first to join this novel initiative, which led to the establishment of Mudhal Partners (means First Partners in Tamil)."
Commenting on the occasion, Founders of Baanhem - Hemachandran L & Balachandar R, said "Financial support is a very critical component for first-generation entrepreneurs to start businesses and make an impact. at Baanhem, our mission is to be a dependable resource for these entrepreneurs to showcase their talent and turn their ideas into successful businesses. Having Mr. Kumar Vembu on board just makes our mission much stronger and deeper. Through our maiden IP program, Startup Thamizha, we are committed to helping the want-to-be entrepreneurs turn their dreams into reality, contributing to Tamil Nadu's economic growth and enhancing a lasting entrepreneurial culture in the state."
Adding to this, Mr. Kumar Vembu said "The first wave of liberalization empowered Indian graduates to gain global expertise through foreign multinationals, sparking a movement that inspired countless entrepreneurs and fueled a thriving Startup ecosystem worldwide. Today, Initiatives like Startup India, Startup Tamil Nadu, entrepreneurship cells, and incubation centers are fueling dreams for today's youth—from colleges to corporate jobs—to embark on their own entrepreneurial journeys.
When I learned about Startup Thamizha's vision to simplify fundraising and amplify success stories, its potential to transform Tamil Nadu's Startup landscape was clear. By connecting founders with investors, Startup Thamizha will accelerate growth and inspire a new generation of entrepreneurs, driving Tamil Nadu toward becoming an entrepreneurial powerhouse.
I'm excited for Mudhal Partners to support Startup Thamizha an IP by Baanhem Ventures Pvt Ltd and the visionary leadership of Balachandar and Hemachandran. Together, we are building a brighter future for Tamil Nadu's Startups".
The program, which is set to be aired on a leading GEC channel, will identify promising entrepreneurs and startups, providing the necessary financial support along with mentorship to further strengthen the successful entrepreneurial heritage of the state.
Baanhem Ventures announced that it is actively raising additional funds from leading venture capitalists to establish a dynamic Startup-Investment Bridge Platform across India, aiming to connect emerging startups with top-tier investors nationwide.
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