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The fund will make investments $500Ok to $four Mn throughout segments together with SaaS, D2C
The fund will enhance 3one4 Capital’s belongings underneath administration to over $210 Mn
3one4 Capital’s portfolio contains Yulu, Licious, DarwinBox and others
Bengaluru-based early-stage enterprise capital agency 3one4 Capital has introduced the primary shut of its $100 Mn (INR 750 Cr) Fund III to spend money on 25-30 tech startups throughout segments. The most recent fund will enhance 3one4 Capital’s belongings underneath administration to over $210 Mn (INR 1,550 Cr).
The fund will make investments a mean ticket measurement of $500Ok to $four Mn in startups working within the software-as-a-service (SaaS) area, enterprise automation, direct-to-consumer (D2C), media and content material, fintech, and deep expertise. Additional, the fund will cowl sectors similar to well being, machine-driven clever companies, edtech, agritech, logistics and distribution, food-tech, mobility, Indian language-focused functions and extra.
Siddarth Pai, managing companion at 3one4 Capital, mentioned, “With this new fund, 3one4 Capital is purpose-built to be deeply involved across the lifecycle of the next innovation engines from India. Our deep involvement model is designed to help founders optimise for sustainable growth by serving as a force multiplier on the path towards defensible long-term value creation.”
The fund has presently subscribed to greater than 40% of its focused corpus of $100 Mn with commitments from each new and current buyers. These buyers embrace household places of work, endowments, foundations, in addition to company and monetary institutional buyers.
Pranav Pai, managing companion at 3one4 Capital mentioned, “Our investor base now combines an intellectually-diverse and globally-positioned pool of resources that provide a consistent competitive edge to the firm and its portfolio companies.” He additional famous that the funding from strategic firms and buyers will provide extra significant capital via the agency’s bottoms-up choice routines to find extra scalable tech-based startups.
Previous to this, 3one4 Capital has raised 4 funds — a devoted seed fund, Rising I, and a devoted alternative fund known as Continuum I — via which it has practically $110 Mn (INR 800 Cr) capital underneath administration. The funding agency has closed Continuum I and Rising I funds, in December 2019, at $54.6 Mn (INR 400 Cr) and $6 Mn (INR 45 Cr) respectively. Continuum I focuses on investing $Three Mn to $5 Mn in Sequence B and above spherical in current portfolio firms, Rising I’ll infuse $71Ok (INR 50 Lakh) to $490Ok (INR 3.5 Cr) into offers with concept stage and seed-stage firms which incorporates new and follow-on investments.
The corporate’s portfolio contains meat and seafood firm Licious, blue collar worker administration platform BetterPlace, neobanking platform Open, biopharma startup Bugworks, end-to-end enterprise HR software program resolution DarwinBox, digital content material home Pocket Aces, P2P lending platform Faircent, lending startup LoanTap, digital banking firm Jupiter and emobility startup Yulu.
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