Early-stage funding agency Java Capital on Monday stated it has launched its first fund with a corpus of Rs 75 crore to put money into startups over the following 18-14 months.
The fund has achieved its first shut at Rs 30 crore and expects to do a last shut within the subsequent 6 months, the corporate stated in a press release.
Sebi-registered alternate funding fund (AIF) Java Capital stated it has launched its “first fund with a corpus of Rs 75 crore, together with a greenshoe possibility of Rs 25 crore”.
The newly launched fund has already began investing in pre-seed to pre-series A startups and plans to construct a portfolio of 15?20 startups with a mean first cheque measurement of Rs 2 crore.
The fund will reserve 50 per cent to make follow-on investments into top-performing portfolio firms, the assertion stated.
“The Fund will take part and lead investments in startups seeking to increase pre-seed to pre-series A funding throughout deep-tech, SAAS, enterprise tech, fintech and local weather & sustainability verticals, out of which Java has already invested in 4 firms from this fund,” it added.
Java Capital has invested in 23 startups like Agnikul, KukuFM, BharatX, Higher Opinions, Yellow Metallic, The E-plane Firm, Kindlife, Legistify and so forth. Java has led the funding rounds in 40 per cent of those firms.
Greater than 50 per cent of the portfolio raised follow-on funding in up-rounds. 4 of those firms had been chosen for the Y-Combinator accelerator post-Java’s investments into them.
As of now, the mixed valuation of Java’s portfolio is USD 385 million (about Rs 3,180 crore), the assertion stated.
“We’re tremendous excited to announce the launch of our fund, and we’re robust believers in a long-term development story for India. We work with our ecosystem and companions within the true spirit of long-term video games with long-term folks results in vital outcomes for society at giant,” Java Capital co-founder and Companion, Bhargavi V stated.