Hatch Fund secures investment from Mountain Lion Ventures
Hatch, centre in Sri Lanka 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 startups with seed funding and bridge capital.
This is a real testament to the visibility Hatch has into the local startup ecosystem and their ability to identify globally scalable startups 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 startups. Mountain Lion ventures, a globally established venture capital firm investing into the Hatch fund helps to overcome both barriers faced by Sri Lankan startups.
The Hatch fund constitutes an ESG fund – HER Capital 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.
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).
General Partner, Mountain Lion Group – Love Yadav, stated: “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.”
Co-founder of Hatch Brindha Selvadurai Gnanam, stated; “our team has several years of experience in supporting startups both at ideation and growth stages across multiple industries.. I am confident that this investment into the Hatch fund will help us further improve our service offerings to the startup ecosystem and help take these startups to the global arena.
Hatch has also pioneered the facilitation of open innovation in Sri Lanka.