Indian billionaire’s VC incubator seeks Gulf investors for new fintech fund

Indian billionaire’s VC incubator seeks Gulf investors for new fintech fund

Rainmatter, a venture capital fund and incubator set up by Indian entrepreneur Nikhil Kamath, is looking to attract investors from the Gulf region by launching a new fund.

The fund also has plans to invest in the Middle East region, which will be its first move outside India.

“So far, Rainmatter primarily allocated proprietary capital. We have been considering starting an Alternate Investment Fund that will be open to investors in the Gulf,” Nikhil Kamath, co-founder and chief investment officer of Zerodha and True Beacon, told Arabian Business.

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“The (proposed) fund will be hyper focused on fintech, which we believe will be an enormous opportunity in India over the next decade,” Kamath revealed.

Kamath, a school dropout-turned billionaire entrepreneur, however, did not elaborate either on the size or the timeline for launching the fund.

On his plans to diversify investments outside India, he said: “We are open to investing in the Gulf and are always on the lookout for good opportunities.

“The Gulf is a natural collaboration for most things in India, based on the deep ties we share historically and the large Indian diaspora living in the Gulf. We are seeking