Investment firm N+1 Capital hits first close of its maiden fund for Indian startups

Revenue-based growth capital firm N+1 Capital announced it has raised an undisclosed amount in the first close of its maiden fund.

More details

• Investors: Undisclosed
• Target amount: US$100 million, including a greenshoe option of US$25 million
• Average ticket size for investments: Up to US$2 million
• Sectors: Sector-agnostic

More company updates

• In January, the company said it was targeting to raise US$20 million in the first close of its maiden fund.
• Its first set of investments include ShypLite, a logistics automation platform, Clensta Technologies, an FMCG company, and Teamonk Global Foods, a specialty tea business.
• According to N+1 Capital, it will make four to eight investments per quarter and that it has a “robust pipeline” for Q2 2022. It also expects an internal return rate that’s within the 20% range from its investments.
• The fund aims to provide over 100 entrepreneurs an average funding of US$1 million each to help them grow their businesses profitably and sustainably.
• N+1 Capital follows an alternative method of raising capital for entrepreneurs. Through its founding venture partner LetsVenture, investors receive a percentage share of the ongoing monthly gross revenue of the businesses they’ve invested in.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.