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Venture capital firm 247VC has announced its India Fund I with a corpus of Rs 200 crore and a greenshoe option of Rs 50 crore, thereby targeting a total of Rs 250 crore ($30 million). The fund is registered with SEBI as a Category II AIF and will invest in high-potential founders across sectors, as the first institutional cheque with follow-on capital in future rounds. 247VC plans to invest in 30 daring startups in the next 3 years.
Founded by Yagnesh Sanghrajka and Shashank Randev, both Operator VCs, experienced and well-recognized early-stage investors with an impressive track record and a collective 50+ years of operating, investing, and fund-raising experience.
Focusing on 4 major themes
While being sector agnostic, 247VC aims to focus on 4 major themes in this fund – consumption, deeptech, enterprise tech and industry 5.0.
“India is entering its most exciting startup decade. With this fund, we’re doubling down on our mission to back ambitious founders at the seed stage – those who are obsessed with solving hard problems and building for scale,” said Yagnesh Sanghrajka, Founder and Managing Partner, 247VC.
“With experience across 200+ early-stage investments, we know how tough the 0 to 1 journey is. Together with the ecosystem partners and co-investors, we’re committed to helping build companies that will shape a Viksit Bharat by 2047,” Sanghrajka added.
Portfolio startups
247VC founders have backed startups like Knight Fintech, EMO Energy, abCoffee, Zeron, Vodex, Stupa Sports Analytics, Spare8, 50Fin, Wrap2Earn, Breathe ESG, Roopya, Arthum, Bugbase, Hummsa Bio, ThinkMetal, Luzo, Coolberg and others.
Leveraging deep founder empathy, operational expertise, and high-velocity decision-making, the team has driven multiple successful exits too, with returns soaring upwards of 70X multiples, the release notes.
“We’ve spent the last decade backing founders, building with them, and learning from every cycle of scale. This fund is not just a next step, it’s a focused leap toward the kind of audacious innovation Bharat needs. Our edge is hands-on experience, deep networks, and a relentless belief in our founders solving meaningful problems. We want to enable the next category-defining companies, especially where markets are still forming or yet to be discovered,” said Shashank Randev, Founder and General Partner, 247VC.
247VC has some marquee early backers like Sachin Tagra, Managing Partner at JSW Ventures, Vivek Mathur, ex-Partner at Elevation Capital, Shailendra Majmundar, Gen AI and Machine Learning (ML)expert, John Hopkins University, to name a few.
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