Ashish Dave, who stepped down as head of Mirae Asset Venture Investments (India) last year, is setting up his own fund, according to people with knowledge of the development, joining a wave of seasoned investors striking out on their own amid a broad reset in the domestic venture capital industry.
His firm, Mumbai-based Sanskrit Capital, is targeting a corpus of Rs 700-1,000 crore for its inaugural fund, the people said. The firm will be sector-agnostic and will back startups at the series B and series C stages that have established product-market fit and are scaling up.
