Nepal-headquartered multi-national conglomerate CG Corp Global has launched a $100 million venture capital fund to invest in emerging start-ups from India, Bangladesh, Sri Lanka, and Nepal.

Singapore based venture capital fund ‘Prestellar Ventures’, launched and backed by the ‘Wai Wai’ noodles-maker Chaudhary Group and its three partners, aims to invest in tech-enabled companies in sectors such as hospitality, consumer, financial services, rural product and services sectors, usually in ‘Pre-Series A’ deals of around $2-3 million.

“This ambitious fund aims to invest in products and projects which will enhance and improve people’s lives on a large scale in the identified countries,” CG Corp Global Chairman and Director of Prestellar Ventures Binod Chaudhary told PTI.

“Investing in the forefront of innovation is critical to keep traditional businesses such as CG Corp Global relevant in the future,” he added.

The other three partners in this venture are micro-lender Satin Creditcare, private-equity firm Frontline Strategy and Nepal’s N E Group.

CG Corp is currently under the process of evaluating projects. Further, it looks to raise and deploy country specific sub-funds across the South Asia region – more specifically India, Sri Lanka, Bangladesh and Nepal.