Venture Capital Fund sets up $5M fund for IIT Startups

June 10, 2021: True Blue Partners (TBP), a Bay Area-based merchant bank, has pledged to
invest $5 Million in startups that graduate from the IIT Startups from its Venture Capital
Fund. TBP Venture Fund’s focus is on Seed and Pre-Series A investments in entrepreneurs
focused on building enterprise AI/ML/NLP applications. As part of this IIT Startups-focused
initiative so far, TBP has invested in Quark.AIHwy Haul, Canvia and Enact Systems that
graduated from earlier Cohorts of IIT Startups.

“Our focus is on helping entrepreneurs on their strategic financial priorities and at pivotal
moments in their company building journey. For entrepreneurs focused on AI in the
enterprise, that means investment capital to build product-market fit and select the right
institutional investment – Sunil Grover, Managing Partner, True Blue Partners, and IIT
Bombay Alumni.