Hatch Fund secures investment from Mountain Lion Ventures

Monday, 12 December 2022 00:44 - - {{hitsCtrl.values.hits}}

Hatch Co-Founder Jeevan Gnanam (left) with Lion Ventures General Partner Love Yadav

Hatch, has scored another first, welcoming on board Mountain Lion Ventures – a Sri Lanka focused build up and scale up investment vehicle, as an investor into the Hatch Fund to provide start-ups with seed funding and bridge capital.

The move is a real testament to the visibility Hatch has into the local start-up ecosystem and their ability to identify globally scalable start-ups through the multitude of incubator and accelerator programs they run.

As an established ecosystem enabler, Hatch identified funding and market access as the most common barriers for local entrepreneurs, particularly female entrepreneurs looking to ideate, prototype and scale their start-ups.

Mountain Lion ventures, a globally established venture capital firm investing into the Hatch fund helps to overcome both barriers faced by Sri Lankan start-ups.

The Hatch fund constitutes an ESG fund – HERCapital and MoonShot ventures. The former being Sri Lanka's first Gender Smart Venture Capital fund and the latter, being a tech fund to encourage disruptive innovations in products, technology and business models.

Under the leadership of Advisory Board Chairman Dr. Cornelius Boersch, General Partner Asad Sultan, General Partner Love Yadav and Venture Partner Jorge Perez Garcia, Mountain Lion Ventures has successfully launched locally developed tech ventures geared for a modern market across digital transformation and clean tech space.

Mountain Lion Group has been responsible for scaling and empowering Sri Lanka’s start-up market aiding in the growth of businesses such as Sling Mobility (a 360° electric mobility platform providing retail logistics solution), LIWE Communities (Sri Lanka’s first comprehensive cloud-based smart communities management platform), Infragist (a cutting-edge full stack tech services company with capabilities across the Metaverse, Cyber Security, Blockchain, Machine Learning and AI Solutions), and Mercato (a B2B single-platform procurement system).

Mountain Lion Group General Partner Love Yadav said: “Sri Lanka is at the cusp of the next gen digital revolution, which is expected to result in maximum stakeholder value created by innovations and ideas in this space. Hatch shares a similar vision with Mountain Lion Group, and it is further aligned with this round of investment commitment. The scope of this investment has the forecasted potential for future growth.”

Since its inception, Hatch has placed a strong emphasis on running Incubator and Accelerator programs, which empower female entrepreneurs and encourage disruptive technological innovations. The Hatch fund is designed to further enhance the support it provides in these key areas.

Hatch Co-Founder Brindha Selvadurai Gnanam said: “Our team has several years of experience in supporting start-ups both at ideation and growth stages across multiple industries. This experience and expertise are the reason we are what we are today. I am confident that this investment into the Hatch fund will help us further improve our service offerings to the start-up ecosystem and help take these start-ups to the global arena.”