Silicon Valley based mobile accelerator Tandem Capital has announced its latest fund named Tandem Habit fund III with its batch of startups including, AcceptPay, PacketZoom and Shoptimize. As per an SED filing  – it’s a $100 million fund and headed by Rohit Bhagat.

This is the third round of fund launched by the accelerator which invests $200,000 in each startup with 6 months on-site collaboration. Earlier it had raised two rounds of funds including $32 million in its previous round.

Most of Tandem Capital’s investments are usually in the form of convertible notes for 10% equity. The accelerator is led by Sunil Bhargava, Rohit Bhagat and John R Ellis.  Launched by Doug Renert and Sunil Bhargava in 2007, Tandem invests in six companies in one batch. Bhargava has over 20 years in technology and marketing in companies such as Xerox Parc, HP and Webvan. Doug Renert has worked with Oracle, DLA and Tello.

So far Tandem Capital has more than a dozen startups in its portfolio including Appthegame, Bash Gaming, SiftShopping and Pune based Shoptimize, a mobile commerce platform targeted for traditional merchants in US and emerging markets.

Former Infosys director T V Mohandas Pai and Ranjan Pai are investors in the fund through Aarin Capital, a PE fund set up by the duo. Earlier, the Pais invested $35mn in 4 startups from their $100 million fund launched in August 2011.

source: http://www.yourstory.in / Your Story / Home> Funding Launch News / Team YS / July 31st, 2013