Eximius Ventures announces first close of its US$10 million fund for early stage start-ups in India

Eximius Ventures declared the first close of its maiden fund of US$10 million, which it plans to invest in early-stage start-ups, with approximately $300,000 equity cheque per start-up. Its team have an accomplished history of investing and enabling businesses with growth opportunities.

Pearl Agarwal, Founder & Managing Director, Eximius, said as a fund investing in the pre-seed stage, we would primarily focus on addressing finding and accessibility gaps faced by start-ups and extend support beyond capital to offer unconditional network access, expert guidance and help with future fundraising etc. “I am delighted to share that I have been able to create an Eximius community, which is strengthened by industry experts, thought leaders and mentors who together create a nexus for founders to scale their start-up.”

As a woman entrepreneur, Agarwal said she wants to create ample growth opportunities for fellow women founders in India and set a precedent for them to enable them to become equal partners in building a sustainable economy. “Also, as a micro VC fund, we are open to smaller seed investments and are excited about nurturing young talent in the industry. We have seen that founders today are spending a lot of time chasing angel investors and facilitating supporting paperwork. This time can be better utilized in focusing on product development and innovation. This is the gap that we are aiming to bridge in the ecosystem through Eximius.”

Micro VC as a space is already matured in the United States with a 230% increase in the number of micro VC funds closed in 2017 as compared to 2009. Micro VC space in India is still in its nascent stages. With the ecosystem expanding and more start-ups emerging everyday, there will be a need for more such agile funds in the near future. These focused funds will need to develop deep knowledge and expertise in notable sectors so as to move swiftly at the same pace as the angel investors and write much bigger cheques compared to individual angel investors with the additional visibility of follow-up on funding.

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Agarwal said the fund wants to meet start-ups that moved past their minimum viable product and have evidence of initial traction. Further, a strong founding team with relevant experience, initial market validation and view on the path to profitability adds additional merit to the entire evaluation criteria.