With a target corpus of Rs 120 crore ($14.5 million), Eternal Capital, founded and managed by former BharatPe COO Dhruv Dhanraj Bahl, has launched its first venture capital fund.
The fund can invest an additional Rs 120 crore through a greenshoe option, making its total capacity Rs 240 crore ($29 million).
November 2023 saw SEBI approve Eternal Capital for a Category-I AIF. Notable operators and businesspeople, including Suhail Sameer, Deep Kalra, Tarun Mathur, Vikas Gupta, Adarsh Menon, Nalin Negi, Sameer Chugh, Saurabh Vashishtha, Kunal Suri, and Amit Bagaria, have already committed to the venture.
In order to create a diverse portfolio of “solutions for the future,” the sector-agnostic fund intends to invest in 40 startups over the course of the next three years, from seed to pre-series A.
Since 2020, Bahl has partnered with several well-known funds and angels to invest in over 50 startups as a former early-stage angel. Among his ventures in his portfolio are Stupa Sports Analytics; Basic Home Loans; ApniBus; Volt Money; DrinkPrime; AdmitKard; GenWise; Vama; and Fleek.
Startups run by seasoned operators that are in the post-PMF stage and have the potential to generate profitable revenue in the medium to long term will be given priority by Eternal Capital.
