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Venture capital firm 247VC has rolled out its first investment fund focused on early-stage startups in India.
The fund has a base size of Rs 200 crore, with the option to raise an additional Rs 50 crore. It is registered under SEBI’s Category II AIF rules.
247VC is led by Yagnesh Sanghrajka and Shashank Randev, both experienced startup investors who earlier co-founded 100X.VC. They left that firm in late 2024.
247VC plans to support around 30 companies over the next three years. The typical investment amount will be about Rs 7 crore per startup, starting from Rs 3-4 crore and increasing over time based on performance.
The fund will target consumer-facing businesses, enterprise software, advanced manufacturing, and deep technology.
Some of the fund’s early backers include JSW Ventures’ Sachin Tagra, former Elevation Capital partner Vivek Mathur, and AI expert Shailendra Majmundar from Johns Hopkins University.
The team aims to complete the first close of the fund within four months. Sanghrajka said that while funding at the early stage is facing headwinds, larger investors entering seed rounds has opened doors for partnerships. The firm hopes to co-invest with bigger funds as part of its strategy.
In the past, the founding team has backed startups like Knight Fintech, abCoffee, EMO Energy, and Zeron.
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