Two ex-Strive execs launch new SaaS microfund

Grayscale Ventures co-founders Nikhil Kapur (left) and Siddharth Verma / Photo credit: Grayscale Ventures

Nikhil Kapur and Siddharth Verma both worked at Strive – the Tokyo-based early-stage VC firm previously known as Gree Ventures – before they were inspired to launch their own microfund for pre-seed investments in November last year.

Called Grayscale Ventures, it made its first close soon after the launch, the company said in a statement. The Singapore-based microfund has invested in several software-as-a-service companies since then, including Olvy and Localwell.

Now, the company has shared a three-year plan to inject capital into 15 to 20 startups – with checks of US$200,000 to US$1 million – for 10% ownership of each company.

Grayscale will target investments in the sectors of software development infrastructure and AI applications. Its limited partners are operators and founders from companies such as Slack, Zendesk, Hasura, Globalway, Nexus, Strive, Apollo Munich, and UOB.

At Strive, the founder duo had completed several pre-seed rounds in India and Southeast Asia, including those of Hasura, Classplus, Ayoconnect, 100ms, and Saleswhale.

See also: These are the most active investors in Southeast Asia’s startups