Former Lowe Lintas Chairman and CCO Arun Iyer launches new VC, Spring Marketing Capital
The VC co-founded by Iyer, Raja Ganapathy ex-Chief of Marketing of Sequoia India and former DDB Mudra Group CEO Vineet Gupta, will provide capital and consultancy service to technology start-ups
Former Lowe Lintas Chairman and CCO, Arun Iyer has teamed up with Raja Ganapathy, former Chief of Marketing of Sequoia India and former DDB Mudra Group CEO Vineet Gupta to launch their own Venture Capital, Spring Marketing Capital, according to news reports.
This development adds to the growing trend of top executives branching out to start their own ventures. According to reports, the VC will provide capital and consultancy services in the areas of marketing and branding to new technology start-ups. It is believed that Spring Marketing Capital already has several assignments including from Healthkart and BYJUs.
The fund has a target corpus of $30 million, which it plans to invest across five to seven startups every year under ticket sizes ranging from $1-2 million. Ganapathy's team is believed to have already had the backing of several investors and is at the advanced stage of finalising LLPs. The VC is expected to close $20 million by June 2019.
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