Suhail Sameer-backed OTP Ventures targets Rs 400 Cr debut fund close

OTP Ventures, backed by former BharatPe CEO Suhail Sameer, is reportedly aiming to secure the first close of its debut fund at Rs 400 crore by June.

Founded in 2023 by Sameer, along with Kunal Suri, former Managing Director of Foodpanda India, and Saurabh Vashishtha, Co-founder of video commerce app Simsim, OTP Ventures is an early-stage fund with a focus on three areas: consumer brands, consumer technology, and fintech.

The venture capital firm recently obtained approvals to establish its fund and is set for its first close, expected in June, with Suri, Vashishtha, and Sameer as general partners, a Moneycontrol report said, adding that the fund has already committed four early-stage investments.

The fund was established a few months after Sameer resigned as BharatPe CEO.

YourStory has reached out to Sameer for comments.

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Since 2016, the trio has been investing together, initially using their private capital through a pooled vehicle, and they have collectively made over 65 investments in India, according to OTP Ventures’ LinkedIn page.

Some of the companies the founders have invested in their personal capacity include Mamaearth, Rupeek, Traya Health, FableStreet, The Whole Truth, OTO Capital, Nat Habit, Bare Anatomy, G.O.A.T Brand Labs, dezerv., Junio, Liquide, abCoffee, Hoop, and Rocketpay.

“Being ex-founders ourselves, we believe we can help founders in their early years of building. We are available to founders when they need a sounding board to discuss critical matters affecting their business,” OTP Ventures noted on LinkedIn.