As part of its third cohort, early-stage venture capital firm First Cheque has stated that it will invest in 15 to 20 startups over the course of the next 18 months.
Aiming to make pre-seed investments with an average first check size of up to $500,000, the company closed its second fund at ₹38 crore.
First Cheque was established in 2018 under the auspices of India Quotient Venture Capital with the goal of assisting direct-to-consumer (D2C) businesses, especially those in underrepresented industries.
In particular, the company wants to invest in white goods, sports brands, children’s brands, and other Gen Z-focused brands.
A noteworthy 75X return was obtained by First Cheque from their successful exit from the D2C jewelry brand Giva last year. Including well-known businesses like Giva, SaaS startup Rocketlane, upskilling platform Seekho, fleet management service Fleetx, water supply startup DrinkPrime, and generative AI startup Simplismart, the Bengaluru-based company has invested in more than 130 startups to date.
