Veda VC, an early-stage venture capital firm, has announced the first close of its Rs 250 crore ($30 million) corpus, which was driven by startup CXOs and family offices.
The consumer internet, SaaS, fintech, and deep tech sectors will all receive investments from the SEBI-registered Category 1 AIF fund, which will invest between $250,000 and $1.25 million. The company focuses on seed to pre-Series A stage investments.
Veda, a company founded by Vasant Rao and Ashis Nayak, Avijeet Alagathi (BYG), and Venus Dhuria (Appyhigh), has a team specifically focused on making investments in cutting-edge technologies like AI/ML, computer vision, and space tech. To assist portfolio companies in reaching PMF, scaling more quickly, and raising follow-on capital, the team also contributes domain expertise, an ecosystem network, execution skills, and craft.
Veda has so far invested in 46 startups, of which more than half have raised additional funding from prestigious investors such as Sequoia, Accel, Kalaari Capital, Mayfair, 3one4 Capital, and others. The portfolio of the fund includes, among other things, Dukaan, Elo Elo, One Impression, Even Health, Rigi, Growth School, and Agnikul.
Pi Ventures, an early-stage venture capital firm, announced the final close of its second fund earlier this month, with a total commitment of $85 million. The fund is particularly interested in deeptech and AI startups in fields like spacetech, biotech, blockchain, and material science.
