India-based 3one4 Capital, a VC firm focused on early-stage tech investments, announced it has closed two new funds: an opportunity fund and a seed fund with total commitments of US$56 million and US$6.5 million, respectively.
3one4 Capital managing partners Pranav Pai (left) and Siddarth Pai / Photo creditt: 3one4 Capital
Continuum I, the dedicated opportunity fund, will back 3one4 portfolio companies in their series B+ rounds with check sizes between US$3 million and US$5 million. The VC firm said Continuum I has attracted new limited partners, such as US-based Emory Investment Management, Japan’s Sojitz, and India-based Catamaran and Infina.
The second fund, Rising I, will invest in startups in their idea and seed stages with typical check sizes of roughly US$100,000 to US$500,000.
Investors in Rising I include existing supporters of the VC firm’s earlier funds, as well as new family offices that it has been working with as co-investors in the seed stage, according to a statement.
With the two new funds, 3one4 looks to enhance its deep involvement model across multiple stages as well as help founders scale their advantages.
“We are grateful to be working with a stellar set of LPs,” said 3one4 managing partner Pranav Pai. “These new LPs will explore co-investment opportunities in rounds raised by the portfolio companies and will work closely with the founding teams to help deploy and scale their value propositions globally.”
The firm was founded by Pranav and Siddarth Pai back in 2016. Currently, the company claims to manage a combined corpus of over US$110 million and a portfolio of more than 50 investments, which include YourStory, Tracxn, DarwinBox, Licious, and Betterplace.
Editing by Charmaine de Lazo
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