Baanhem Ventures raises Rs 3.3 crore from Mudhal Partners

Baanhem Ventures has raised Rs 33 million (Rs 3.3 crore) from Mudhal Partners, the investment firm backed by Kumar Vembu, as it aims to identify and support first-generation entrepreneurs in the state, the company announced.

Baanhem Ventures is the creator of the popular television reality show 'Startup Thamizha', which seeks to support first-generation entrepreneurs from Tamil Nadu and promote a shift in the mindset of high-net-worth individuals to invest in startups.

The 'Startup Thamizha show' has already secured a commitment of Rs 200 crore in investments for three seasons from various industry leaders.

Baanhem Ventures is now raising funds from venture capitalists to establish a dynamic Startup-Investment Bridge platform across the country, designed to connect emerging startups with investors, according to a company statement released on Tuesday.

"Our mission is to provide a reliable resource for entrepreneurs to showcase their talent and turn their ideas into successful businesses. Having Kumar Vembu on board strengthens and deepens our mission.

Through our inaugural programme, 'Startup Thamizha', we are committed to helping aspiring entrepreneurs turn their dreams into reality, contributing to Tamil Nadu's economic growth," said Baanhem founders Hemachandran L and Balachandar R.

"I was impressed by Baanhem's vision to specifically develop first-generation and native entrepreneurs from Tamil Nadu for the future, as well as their scientific approach to producing successful startups.

This is why I decided to be the first to join this novel initiative, which led to the establishment of Mudhal Partners," said Kumar Vembu.