In brief: India’s 3one4 Capital reveals first close of new $50m fund

3one4 Capital, a Bangalore-based early stage venture capital firm, has announced the launch of its dedicated opportunity fund: 3one4 Capital – Continuum I. [The fund] has a target corpus of US$50 million and has completed its first close for commitments of US$21.4 million.

It will focus on investing in a curated selection of opportunities from the 3one4 Capital portfolio and will aim to invest in the growth stages of these companies.

Source: 3one4 Capital

The Continuum I will focus on the series B and later funding stages of 3one4 Capital’s existing portfolio companies, with check sizes of US$3 million to US$5 million.

After the fund’s final close, the VC firm will be managing a coffer worth more than US$100 million across all its funds.

Currency converted from Indian rupees. Rate: US$1 = INR 71.62