Capfort Ventures, a newly launched venture capital platform, on Wednesday announced that it will be raising up to Rs 200 crore in a fund. The fund, set up by former chief executive of Venture Catalysts Abhimanyu Bisht and Hiraco Ventures Founder Kavit Sutariya, aims to invest in 40 startups having a valuation within Rs 100 crore each, as per a statement.
It will invest Rs 2-6 crore in every startup it chooses, and the fund will be focused on technology companies. The first close of Rs 100 crore is being targeted by the end of the year, the statement said, adding that the fund also has a green shoe option of Rs 100 crore. It aims to raise a majority of the fund from domestic investors, including institutional investors, family offices, and ultra high net-worth individuals, the statement said. Capfort Ventures is a category II alternate investment fund and will be focusing on pre-series A investments in sectors such as deeptech, cleantech, B2B tech, logistics, healthtech and other impact oriented sectors, the statement said.
It will be investing in founders who are building technologies that will solve Indian problems for the next decade, and the fund will be collaborating with its portfolio companies and provide mentorship to the founders. Bisht and Sutariya have led investments in over 200 startups in their previous roles, with 90 per cent of the investments being tech-based. “The introduction of our Rs 200 crore India-focused tech fund is a strategic milestone for Capfort Ventures. At Capfort, we are forward looking; our objective is to provide not only financial support but also invaluable guidance and mentorship to help entrepreneurs turn their vision into reality,” Bisht, its general partner, said.
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