A total of 8 new VC funds emerged this month; here’s a quick recap of what happened ⤵️
(1) Two former Orios Ventures partners — Anup Jain and Rajeev Suri have started BlueGreen Ventures
- Fund I is $75M + a $30M green shoe option
- Following a barbell investment model i.e. early stage cheques (₹7 to ₹12 crore) & later stage cheques (i.e. ₹20 to ₹30 crore)
(2) Razorpay has launched its Razorpay Venture Investment Program
- This is a follow-up to their earlier earlier Razorpay Rize program which helped startups with credits, perks, mentorship etc
- This is a $50M allocation in partnership with PeakXV and Lightspeed India
- 10 to 15 investments per year of ~$1M
- This program is run by Vishnu Acharya
(3) Former Titan Capital partner Bipin Shah has launched his own firm Zeropearl
- He will be making 12-15 concentrated investments per year; 1st cheque into the company
- ZP is aiming for a 1 week TAT on response & 1 month TAT on wiring
- 1st investment done (True Diamond)
- Interesting model: 10% of profits will go to CSR
(4) Stellaris Venture Partners has launched a $300M Fund III
- Fund I was $90M and Fund II was $225M
- Fund III will be doing Seed ($0.5M to $3M cheques) & Series A investments ($3.5M to $10M cheques)
(5) ex IFC exec Sayan launched Ortella Global (OG) Capital Fund
- This is a ₹300 crore fund.
- Will be investing in 20 companies; $2M each (~₹15 crore)
- 3 investments made till date (Sayan is FAST)
(6) ex PeakXV MD Piyush Gupta has launched Kenro Capital to invest in secondary opportunities
- They will be investing $20M to $30M per company to buy our investors, Angels, early employees etc
(7) IIT-B is planning a ₹100 crore venture capital fund
- Since inception ~20 yrs back, their incubation lab has spawned ~250 companies (including IdeaForge which IPO'ed, Gupshup ~$700M valuation, Atomberg which is an IPO candidate)
(8) Pavestone VC launched Fund I with a ₹816 crore commitment
- Looking to make ~8 to 10 investments of $5M to $10M each
That’s all for the November update — you can find the October & earlier updates linked in the comments below
➡️ As always, it is very interesting to see what other investment funds do. I firmly believe that more capital is a net positive for our startup ecosystem.
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