India-based VC fund PointOne Capital announced the first close of its maiden fund that will be centered on early seed-stage startups.
However, it didn’t mention the amount it had raised.
The company said it plans to raise a total of 500 million rupees (US$6.8 million) for the fund, with a ticket size of up to 10 million rupees (US$136,000) per startup, according to a statement.
From left: PointOne Capital managing partners Ravish Ratnam, Archana Priyadarshini, and Mihir Jha / Photo credit: PointOne Capital
Although largely sector-agnostic, PointOne is primarily targeting large untapped opportunities in fintech, consumer internet, gaming, software-as-a-service, healthcare, and edtech. It plans to make at least one investment per month moving forward.
The fund is registered with the Securities and Exchange Board of India as a Category I alternative investment fund, a type of fund that invests in startups or early-stage ventures in areas that the government or regulators consider as socially or economically desirable.
Its team includes Mihir Jha and Ravish Ratnam, who both come from Indian angel investment platform Letsventure, as well as Archana Priyadarshini who previously worked at Unicorn India Ventures. All three have collectively worked with over 1,000 startups, closing more than 60 investments in their tenure.
“Our country is producing entrepreneurs at an unprecedented rate – needless to say, capital needs to catch up,” shared Ratnam. “PointOne has been set up to partner with the founders at the most fundamental stage, one which has the most number of variables and hidden variables.”
Prior to raising its maiden fund, PointOne has been investing in similar ventures through their angel syndicate, with some of these ventures already raising additional funding rounds.
Edited by Collin Furtado
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
