A new fund has been launched by India-based Merak Ventures with a goal of raising $100 million. GrowX Ventures partners would be in charge of managing the fund.
Manu Rikhye and Sheetal Bahl, partners of GrowX Ventures, co-founded Merak Ventures. Merak plans to invest in up to 20 businesses over the next three to four years, with a focus on seed-stage, B2B, and emerging technology firms.
Despite its goal of being sector-neutral, the fund will concentrate on investing topics including climate technology, insurtech, and corporate software as a service (SaaS).
Rikhye claims that Merak’s objective is to collaborate with founders who wish to find solutions to real-world issues by providing funding and mentor-partner relationships.
The Delhi-based VC firm will assist the firms it invests in with a strategy, business growth, and funding.