VC's founding team members Apoorva Ranjan Sharma, Anuj Golecha, Anil Jain and Gaurav Jain are the founders for the fund, it said.
There's no better time to bet on Indian entrepreneurs than today. We are witnessing a surge in startups who are focused on solving Indian and global problems born out of various parts of India, Sharma, who was an early investor in Oyo Rooms, said.
Most startups struggle to raise their first round of funds in India and have to mostly rely on friends and family for capital, the statement said, adding that at present, VC's ecosystem includes over 4,000 investors, founders and executives.
The backers of the new fund include Indian businessmen who have built and scaled their ventures from scratch over the past two decades in India, it said.
VC is targeting a total corpus of Rs 300 crore for the fund and plans to raise the remainder of the commitments from corporations, family offices and institutions from ten countries.
It intends to offer USD 100,000 for a 5-7 per cent equity per startup and put it through a three-month acceleration programme while being mentored by successful founders, it said.
Well performing startups will be eligible for an investment of USD 500,000 to USD 2 million, it said.
At present, the investment portfolio of VC consists of 75 startups including over 30 multibaggers like BharatPe, Beardo, PeeSafe and Fynd, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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