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Suzuki rolls out Rs 340 Cr Next Bharat Ventures fund for Indian startups

EntrackrEntrackr · 1y ago
Suzuki rolls out Rs 340 Cr Next Bharat Ventures fund for Indian startups
Medial

Japanese automotive conglomerate Suzuki has launched an India-focused venture investment arm called Next Bharat Ventures, with a corpus of Rs 340 crore to back early-stage startups. According to an ET report, the vehicle will be set up as a subsidiary of Suzuki, which will be the sole limited partner (LP) for the first fund and LPs are sponsors in the funds. Next Bharat Ventures will make investments through a residency programme and its first cohort will begin in October this year, with applications starting on Thursday. This will be similar to residency programmes run by the likes of Antler and Y Combinator but will focus on firms that will make a social impact through their businesses. Next Bharat Ventures aims to make up to 20 investments per year over the next three to four years. The cheque sizes will range from Rs 1 crore to Rs 8 crore. The fund will focus on sectors like agritech, supply chain management, financial inclusion and rural mobility, among others. The investments will have a span of 15 years and the corpus will focus on businesses that benefit workers in the informal economy, like gig workers and waste management workers, as well as those that work with the rural economy, involving farmers and artisans. In June 2023, Maruti Suzuki India selected 6 startups including DriverShaab, Route2Jute, OiHelp, Hopun Innovations, Backyard Creators and Salutem Ridegear under its nurture program. The program was conducted jointly with IIM Calcutta Innovation Park (IIMCIP). Earlier this year, Maruti Suzuki India acquired 6.44% stake in in Amlgo Labs.

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Physis Capital crosses Rs 200 Cr in funding

EntrackrEntrackr · 24d ago
Physis Capital crosses Rs 200 Cr in funding
Medial

Physis Capital crosses Rs 200 Cr in funding Physis Capital, the growth-stage venture fund launched by Vinay Bansal, Ankur Mittal, and Mitesh Shah of Inflection Point Ventures, has raised over Rs 200 crore ($23 million) in its ongoing fundraise. According to the company, the final close is expected within the next 6 to 9 months. The fund focuses on tech-driven startups from Pre-Series A to Series B and aims to build a concentrated portfolio of 15–20 companies. It will invest $1–1.5 million initially, with follow-on cheques of $1–4 million for high-performing portfolio companies. Physis Capital has already backed three startups Ben & Gaws, CTPL, and STAGE and has 8 more deals in the pipeline, with 3–4 expected to close in the next two quarters. The fund has seen participation from leading institutions and family offices including SUD Life, Haldiram’s Family Office, Lotus Holdings, and Narayana Nethralaya. “With strong support from marquee investors and a clear focus on founder-first investing, Physis Capital is well-positioned to back the next wave of high-impact startups in India. We are on track to build a portfolio of over 15 companies by the first half of next year,” said Vinay Bansal, General Partner, Physis Capital. In March 2022, angel investment platform Inflection Point Ventures (IPV) had announced the launch of its $50 million new fund Physis Capital with a green shoe option of another $25 million. Later in May 2023, Physis Capital announced its first close of CAT II $50 million fund.

247VC launches Rs 200 Cr fund

EntrackrEntrackr · 1m ago
247VC launches Rs 200 Cr fund
Medial

Venture capital firm 247VC has rolled out its first investment fund focused on early-stage startups in India. The fund has a base size of Rs 200 crore, with the option to raise an additional Rs 50 crore. It is registered under SEBI’s Category II AIF rules. 247VC is led by Yagnesh Sanghrajka and Shashank Randev, both experienced startup investors who earlier co-founded 100X.VC. They left that firm in late 2024. 247VC plans to support around 30 companies over the next three years. The typical investment amount will be about Rs 7 crore per startup, starting from Rs 3-4 crore and increasing over time based on performance. The fund will target consumer-facing businesses, enterprise software, advanced manufacturing, and deep technology. Some of the fund’s early backers include JSW Ventures’ Sachin Tagra, former Elevation Capital partner Vivek Mathur, and AI expert Shailendra Majmundar from Johns Hopkins University. The team aims to complete the first close of the fund within four months. Sanghrajka said that while funding at the early stage is facing headwinds, larger investors entering seed rounds has opened doors for partnerships. The firm hopes to co-invest with bigger funds as part of its strategy. In the past, the founding team has backed startups like Knight Fintech, abCoffee, EMO Energy, and Zeron.

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