By Manish Singh
3one4 Capital, a venture capital firm in India, today announced a $100 million fund as the young investment firm looks to back more early-stage startups in the world’s second largest internet market.
The new fund, third for the five-year-old Bangalore-headquartered investment firm, has already secured $40 million from new and existing investors. 3one4 Capital, which closed its previous fund late last year, now manages over $210 million capital.
In the last four years, 3one4 Capital — founded by Pranav Pai and Siddarth Pai, sons of TV Mohandas Pai, a widely respected industry figure who served as a senior executive at Infosys — has backed over 50 startups.
Some of his profile investments include neobanking startups Open and Jupiter, digital entertainment firm Pocket Aces, HR software provider DarwinBox, mobility firm Yulu, and Licious, which sells fresh meat digitally.
In an interview with TechCrunch, Pranav said the new fund would enable 3one4 Capital to continue to invest in a wide-range of early-stage startups. 3One4 Capital largely focuses on Seed and pre-Series A financing rounds, but it has also backed startups in Series A and later stage deals.
Pranav said his firm will continue to invest across five categories — namely, direct-to-consumer tech, media …read more
Source: Tech Crunch