First Cheque closes second fund at Rs 38 cr, plans to invest in 50 startups

First Cheque aims to be the earliest institutional capital available for founders and seeks to achieve this by investing at the pre-seed stage

Pre-stage Venture Capital firm First Cheque, launched its second fund to invest in 50 startups in the next 18 months. The fund, which used to operate as an AngelList syndicate and had invested in more than 100 startups in the past three years, has raised Rs 38 crore from global investors for its second fund. The firm will focus on first-time founders and will invest $100,000 in each of its portfolio companies, which is essential for founders to get their business started from scratch.

First Cheque aims to be the earliest institutional capital available for founders and seeks to achieve