Recur Club, a revenue exchange platform, has launched the Regreen Fund, a $10 million sustainable finance program to invest in startups that are actively contributing to a greener and more sustainable future.
As the startup ecosystem continues to evolve, founders are now being evaluated not only on their intelligence quotient (IQ) and emotional quotient (EQ) but also on their governance quotient (GQ). This emerging trend reflects the growing importance of corporate governance for startups from their inception.
The fund will provide funding support to environmentally conscious startups in India, fostering positive change through their innovative products and services. Selected companies will receive access to growth capital without any equity dilution, facilitating the expansion of their operations, acceleration of product development, and broadening of their market reach.
“We are excited to introduce the Regreen Fund as a reflection of our strong commitment to sustainable development and environmental preservation,” said Eklavya Gupta, co-founder and CEO of Recur Club. “We believe in the power of startups and entrepreneurs to tackle the urgent environmental challenges we face globally. Through the Regreen Fund, we aim to provide essential financial support and valuable resources to drive meaningful change in India’s sustainability landscape.”
Recur Club, founded in 2021 by Abhinav Sherwal and Eklavya Gupta, employs an integrated approach to evaluate key metrics of its customers. By integrating with their accounting, billing, and subscription management systems, Recur Club ensures a comprehensive assessment that enables informed decision-making for startups.
Recognizing the importance of governance and sustainability in the startup ecosystem, the recently concluded Startup20 summit during India’s G20 presidency recommended a 63-point self-regulatory framework for startups. These recommendations aim to guide startups from the early stages to the initial public offering (IPO) phase. The thinktank behind these recommendations believes that fostering good governance practices will contribute to the overall health and success of startups.
The launch of the Regreen Fund is a significant development in the Indian startup ecosystem. It is a clear signal that the government and the private sector are committed to promoting sustainable development. The fund will provide much-needed capital to startups that are working to address some of the most pressing environmental challenges facing the country.
The fund is also aligned with the government’s broader initiatives to promote green financing. In recent years, the government has taken a number of steps to encourage sustainable investment, including permitting “green deposits” for both banks and non-banking financial companies. The launch of the Regreen Fund is a further sign that the government is serious about its commitment to environmental sustainability.
The launch of the Regreen Fund is a positive development for the Indian startup ecosystem and for the environment. The fund will provide much-needed capital to startups that are working to address some of the most pressing environmental challenges facing the country. The fund is also aligned with the government’s broader initiatives to promote green financing.
The startup landscape evolves, founders are recognizing the significance of governance quotient alongside intelligence and emotional quotients. The introduction of the Regreen Fund by Recur Club underscores the growing focus on sustainability in the startup ecosystem, offering crucial financial support to startups committed to making a positive environmental impact. With the Indian government’s backing and initiatives, the future looks promising for startups striving to build sustainable and successful businesses.
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