Meesho, Acko to receive fresh funding from SoftBank’s Kabir Misra’s new fund

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Social commerce startup Meesho and online insurance based company Acko are in talks to bag yet another funding round this year. One of the investors for the round is a new fund started by a managing partner of SoftBank.

Kabir Misra, who has served SoftBank Investment Adivisers as a Managing Partner for about a decade, has now started his own fund named RPS Investment Fund.

Misra’s $200-250 million worth RPS Investment Fund set up the fund to invest in early-to-mid stage startups across primarily US, Southeast Asia, and India.

The fund that has SoftBank as its anchor limited partner, is looking to invest around $10-15 million in Meesho, while a small $5 million in Acko.

Russian angel investor Yuri Milner is also expected to be a part of the Meesho funding round, reports Mint.

In June this year, Meesho had raised a series B round of $11.5 million to reach 20 million homepreneurs by 2020. Prior to this, the company had also raised $3.44 million about a year ago. Meesho’s existing investor include SAIF Partners, Y Combinator and Venture Highway among others.

Online Insurance startup Acko had secured Series A round of funding led by Amazon worth $12 million in May this year.

On a different note, with this fund’s closing, Kabir Misra will have to resign from his existing designation in SoftBank but is likely to keep working closing with the Japan-based investor’s team.

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