360 ONE Asset, the asset management arm of wealth manager 360 ONE WAM, has launched an early-stage venture capital fund worth Rs 500 crore, marking a significant push into India's burgeoning startup ecosystem. The fund has already backed four startups from various industries, adding to the firm's "Idea to IPO" capital stack.

Key Highlights

• 360 ONE Asset launches ₹500 crore VC fund targeting seed to Series A startups across tech sectors. 
• Fund focuses on consumer tech, fintech, GenAI, spacetech, and defense; aims for 25 high-conviction investments. 

According to a press statement, the fund will invest in seed and Series A rounds in consumer tech, fintech infrastructure, generative AI, and frontier technologies such as spacetech, defense, and precision manufacturing.

The strategy, which is anchored by 360 ONE Asset's $3 billion private equity platform, focuses on deep involvement, board participation, and long-term capital support, according to the company.

"As India approaches its next wave of startup-led economic transformation, 360 ONE Asset's early-stage strategy aims to be at the forefront, identifying, backing, and shaping the companies that will define the next generation of unicorns," said Sameer Nath, CIO & Head, Private Equity & Venture Capital, 360 ONE Asset.

According to Abhishek Nag, Senior Fund Manager, Strategy Head, Early-Stage VC, 360 ONE Asset, the firm is positioning itself to bridge the gap between the country's micro-VC ecosystem and large global funds. Nag also stated that the firm will provide startups with patient, long-term capital throughout their growth journey.

"We follow a disciplined investment process that includes thorough due diligence, clear value creation plans, and defined exit strategies. We also provide active co-investment opportunities for strategic partners, all while remaining focused on long-term macrotrends such as domestic consumption, financial infrastructure, healthcare, AI-powered services, and deep tech innovation," Nag added.

The strategy is already in motion, with transactions in advanced stages of due diligence. These include a hybrid-casual gaming startup whose flagship India-focused game received 10 million downloads in three months; a hot sauce brand popularizing Indian flavours abroad; a SaaS firm developing a "mutual fund AMC in a box"; and a spacetech company developing indigenous Synthetic Aperture Radar technology with ISRO expertise, according to the company.

360 ONE Asset's early-stage investments are backed by an advisory board that includes entrepreneurs and tech leaders such as Gaurav Kushwaha, Nigel Vaz, Vaibhav Domkundwar, and Ashwin Mittal.