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$200 M raised by 3one4 Capital for its fourth early-stage fund

A $200 million early-stage fund has been closed by early-stage venture capital firm 3one4 Capital, which has invested in startups like Licious, Loantap, Koo, Darwinbox, and Open.

Fund IV of was oversubscribed, according to 3one4 Capital, by $250 million (INR 2000 crore), but the company has chosen to follow its disciplined model and has decreased the accepted amount to $200 million in order to maintain the fund’s intended size.

Leading international and Indian investors have continued to demonstrate strong confidence in 3one4 Capital’s strategy by investing in Fund IV as Limited Partners (LPs), the fund said in a statement, despite market challenges and subdued investor sentiment.

With checks ranging from $500K to $6-7 million, 3one4 Capital intends to invest in 30-35 companies through the fund. The average check size would be in the range of $1.5 and $3 million. The fund’s first close was made by 3one4 Capital in March 2023, and a portion of the money has already been invested in more than five startups.

The VC firm was established in 2016 by Pranav and Siddarth Pai, and in 2020 it will begin raising its third flagship fund. Since its inception, it has raised 5 funds, including 3 flagship and 2 follow-on funds.

3one4 Capital closed its third flagship fund in November 2021 for Rs 1,000 crore from the CDC Group, the Japan-India Fund-of-Funds, Nippon India Digital Innovation AIF (NIDIA), and South Korean gaming titan KRAFTON.

The newest fund for 3one4 Capital also marks the venture capitalist’s entry into GIFT IFSC (Gujarat International Finance Tech-city), the country’s first IFSC.




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