Eximius Ventures announces first close of its targeted $10m fund for Indian startups

India-based Eximius Ventures announced its entry into the country’s micro VC scene with the first close of its targeted US$10 million maiden fund for local early-stage startups.

The company, however, didn’t disclose the amount it had raised in the first close of the fund.

Pearl Agarwal, founder and managing director at Eximius Ventures / Photo credit: Eximius

The fund plans to invest up to about US$300,000 per startup, targeting those in the edtech, fintech, gaming, healthtech, B2B software-as-a-service, and online media spaces. It aims to back at least 25 to 30 emerging startups in the next three years, it said in a statement.

Eximius was established in March 2020 by founder and managing director Pear Agarwal, who has worked with companies such as Merrill Lynch and Global Infrastructure Partners. She brings with her experience in facilitating mergers and acquisitions as well as helping businesses raise capital.

In her own capacity, Agarwal previously invested in companies such as Nexweave, BluSmart Mobility, Exprs, FWD, Redwing Labs, and inFeedo.

“As a fund investing in the pre-seed stage, we would primarily focus on addressing funding and accessibility gaps faced by startups and extend our support beyond capital to offer unconditional network access, expert guidance, help with future fundraising, and more,” she said.

Moving forward, the fund aims to meet startups that have moved past their minimum viable product and have evidence of initial traction.

Correction (March 18, 2021 17:00pm SGT): The article headline had earlier mentioned that Eximius Ventures had raised US$10 million in the first close of the fund, which was incorrect.