Key Highlights
- 247VC launches Rs. 200 Crore fund to back early-stage Indian startups across consumer tech, SaaS, and deep tech.
- New venture capital firm by 100X.VC founders targets investments in 30 startups with Rs. 3-7 crore per company.
- 247VC’s Category II AIF fund attracts early investors from JSW Ventures, Elevation Capital, and AI experts from Johns Hopkins.
Venture capital firm 247VC has launched its inaugural fund devoted to investing in India’s early startups.
This fund has a base of Rs. 200 crore and can increase to Rs. 250 crore through additional tidying up. According to SEBI, this fund is classified as a Category II AIF.
247VC is run by Yagnesh Sanghrajka and Shashank Randev, who have together worked in the startup investing field since beginning 100X.VC. Resignations were made late in 2024 from that firm.
247VC is aiming to help around 30 companies over the course of the next three years. Usually, a startup will receive around Rs. 7 crore from us which may start at about Rs. 3-4 crore and go up based on their progress.
Investments will be focused on companies that serve consumers, make enterprise software, are involved in advanced manufacturing or work in deep technology.
Among the first investors in the fund are Sachin Tagra from JSW Ventures, Vivek Mathur, a former Elevation Capital partner and Shailendra Majmundar working in AI at Johns Hopkins University.
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They want to close the first round of the fund by the fourth month. Sanghrajka added that early funding after startups launch is tough, though larger investors entering at that stage makes it possible to form useful partnerships. One of the firm’s plans is to team up with bigger investment funds.
Before, the founding team has supported businesses like Knight Fintech, abCoffee, EMO Energy and Zeron.
