 "Venture capital")
Venture capital firm CapFort Ventures on Wednesday announced the launch of a Rs 200-crore fund that will invest in more than 40 technology start-ups in India over the next two years.
The Category II AIF fund will be led by Abhimanyu Bisht, the former chief executive officer of Venture Catalysts, and Kavit Sutariya, the founder of Hiraco Ventures and an angel investor, said CapFort Ventures in a statement.
The fund is expected to make its first close by the end of the year. A green-shoe option of Rs 100 crore is available, in if investors show interest. CapFort expects that most of the fund’s capital will be sourced from domestic investors, with participation by institutional investors, family offices, and ultra high net worth individuals. Investors in Tier 2 cities have shown interest in the fund, said the company.
The fund will invest in high-potential start-ups of valuations within Rs 100 crore and in sectors like health technology, deeptech, cleantech, B2B tech, and logistics. CapFort said that its cheque size will be between Rs 2 crore and Rs 6 crore, with the average being Rs 3–3.5 crore.
“The introduction of our Rs 200 crore India-focused tech fund is a strategic milestone for CapFort Ventures. Our objective is to provide not only financial support but also invaluable guidance and mentorship to help entrepreneurs turn their vision into reality. We are confident in our ability to identify ground-breaking tech startups and guide them towards sustainable growth,” said Bisht, general partner, CapFort Ventures.
“As the third-largest startup economy, India has demonstrated the potential to be a superpower in innovation and profitability. By investing in high-potential technology startups, we aim to help disruptive entrepreneurs push the envelope of technological innovation which drives India's next decade of growth," said Sutariya, general partner, CapFort Ventures.
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CapFort is a technology-focused fund and backs business founders building technologies solving Indian problems.
Sutariya and Bisht have cumulatively invested in more than 200 start-ups in India. Sutariya is the third most active angel investor in India, according to Tracxn. Some of his key investments are Wellness Forever, Reshamandi, Chqbook, Melorra, Karkinos, Ketto, Inc42, FarEye, Pidge, Posist, Zingbus and TrueMeds.
At Venture Catalysts, Bisht headed the investment evaluation team for the firm's angel fund. Some of his prominent investments are Zingbus, AdOnMo, Basic Home Loan, Sheru, Hesa, ANS Commerce, Ethereal Machines, InShorts and Vidooly.
