The first investment fund concentrated on early-stage Indian startups has been launched by venture capital firm 247VC.
The fund can raise an extra Rs 50 crore on top of its base size of Rs 200 crore. According to SEBI’s Category II AIF regulations, it is registered.
Yagnesh Sanghrajka and Shashank Randev, two seasoned startup investors who co-founded 100X.VC, are in charge of 247VC. In late 2024, they departed from that firm.
Over the next three years, 247VC intends to assist about thirty businesses. The average startup investment is around Rs 7 crore, with initial investments of Rs 3–4 crore and subsequent increases contingent on performance.
The fund’s target industries will include deep technology, enterprise software, advanced manufacturing, and consumer-facing companies.
JSW Ventures’ Sachin Tagra, Vivek Mathur, a former Elevation Capital partner, and Johns Hopkins University AI specialist Shailendra Majmundar are among the fund’s early backers.
The group wants to finish the fund’s initial close in four months. Although there are obstacles to early-stage funding, Sanghrajka stated that the entry of larger investors into seed rounds has created opportunities for collaborations. One of the firm’s strategies is to co-invest with larger funds.
Previously, the founding team has invested in startups such as Zeron, abCoffee, Knight Fintech, and EMO Energy.
