Hyderabad, Aug 6 (IANS): Walsh Karra Holdings, a US-based investment firm, will invest $100 in start-ups in Telangana over the next five years.
This was announced by the firm while signing a Memorandum of Understanding (MoU) with WE Hub, India’s first state-led nodal organization for women’s entrepreneurship.
Phani Karra and Greg Walsh of Walsh Karra Holdings and Sita Pallacholla, Chief Executive Officer of WE Hub, signed the MoU guaranteeing an investment of $5 million in WE Hub over the next five years.
The MoU was signed in New York, in the presence of Chief Minister A. Revanth Reddy and Minister of Industry and Information Technology D. Sridhar Babu, during their official visit to the US to explore new partnerships and investments for the state.
According to the Chief Minister's Office (CMO) here, Revanth Reddy congratulated the entire team for this success.
"Women entrepreneurship will liberate our society and unleash the truest potential of Telangana. No society can achieve its fullest potential without enabling and empowering women," the Chief Minister said.
"With this initiative, over the next five years, WKH will also invest $100 million in start-ups incubating in the Telangana ecosystem, both WE Hub incubated start-ups and beyond, thus being a reliable partner in the growth story of both urban and rural Telangana," said Greg Walsh.
Walsh Karra Holdings (WKH) co-founded by seasoned global entrepreneurs and investors Greg Walsh and Phani Karra, operates out of the US and Singapore. It is uniquely positioned to find and develop new investment opportunities to drive the next century's sustainable economy.
It supports early and growth-stage companies that demonstrate their commitment to solutions that model innovation, sustainability, and profitability. By investing in these solutions, WKH aims to not only accelerate their scalability but also contribute to building a more sustainable future.
"I studied at Osmania University and started my career at Hyderabad, which propelled me to succeed on the international stage. The gratitude I feel to India and Hyderabad made me look for ways to give back. With this partnership, we have found a reliable agency to ensure our investments make a positive impact in India," said Phani Karra.
According to the CMO, in keeping with the Chief Minister's vision to enable more and more women to become drivers of economic empowerment of the nation, WE Hub will be implementing targeted programmes and world-class entrepreneurship, incubation, and acceleration programmes in the next five years.
This investment by WKH will provide the much-needed timely impetus, catalysing the growth of WE Hub alongside the growth of women entrepreneurs.
Sita Pallacholla said this investment would be used to design and deliver a flagship programme of international standards to women entrepreneurs in India.
Meanwhile, the Chief Minister, Minister Sridhar Babu, and other members of the delegation visited the New York Stock Exchange.
"It was rather fortuitous for us to start our trip to the USA to bring investments for Telangana with a visit to the historic New York Stock Exchange - an institution that is perhaps the heart of the American and global economy. An icon that stands testimony to the history of wealth creators, who have shaped our world," read a post from the CMO handle on X.
"It was wonderful to explore the building, learn about its achievements, its eloquent statement of greatness, witnessing economic history being written for so long. My colleague D. Sridhar Babu and several team members have returned with a greater resolve to scripting and replicating an equally amazing story back home," it added.