Foxhog Ventures bets big on rural startups

Mumbai: Finding a small loan for your SMEs in the rural Indian region has never been so easy and that too without colleterial.

Tarun Poddar as the Managing Director at US-based venture capital firm Foxhog Ventures Corp which specializes in seed, early and growth-stage investments, finds his purpose in 'helping entrepreneurs in whatever way possible' and 'simplifying how consumers and businesses interact with one another through technology.'

Talking to Bizz Buzz, Poddar says: "Our investment is not to generate only RoI (return on investment) but, meaning to invest on the different minds. The different problems of the society should be resolved by different minds."

Tarun believes that ease of access to technology for a majority of India's population is set to drive the next big opportunity for startups and investors. Enabled by easy access to affordable data packs and low-cost smartphones, more than 500 million Indians, primarily from rural India, are poised to go digital in the next couple of years.

Foxhog's vision to reach investors as affordable as reaching the data packs to rural India has become real for the last three months, as they have started enabling their micro branches in rural regions. With 22 branches across India, Foxhog has enabled easy access of investors for shopkeepers to small business owners, amounts starting from Rs 10,000 to Rs 10 crore.

During the time of unicorns, innovative minds in Indian villages must get a platform to showcase their talents to the world and this is where Foxhog comes into the place as a bridge.

"Sustaining for two years with all ups and downs and fighting with all big bankers and finance sharks in the market has never been easy for me. Listening to the critics and improving myself has been a firecracker for me but that all made me stronger than ever." says Poddar.

Foxhog has been operating in India for more than two years and has closed its last quarter for Rs 135 crore having more than 22 branches with the strengths of more than 350 employees across six countries and more than 62 portfolio companies where they have invested and a few of them has also been acquired. In addition to focusing on rural India, the venture capital firm is also helping women entrepreneurs to prove their mettle.

Foxhog is also looking to expand in Europe using its newly opened branch in Frankfurt, Germany. The company also plans to expand its lending division in different rural areas of the country by opening customer service points.