Finvolve closes maiden funds at Rs 100 Cr; announces new funds with Rs 500 Cr capacity
Finvolve also announced the launch of three new funds, with an investment capacity of around Rs 500 crore, aimed at expanding its investment spectrum across accelerator, seed, and scale stages.
Micro venture capital (VC) fund Finvolve has closed its maiden funds at a total corpus of Rs 100 crore, with commitments from prestigious families and marquee investors.
The two funds are Category I Alternative Investment Funds (AIFs) registered with the Securities and Exchange Board of India (SEBI), each having a corpus of Rs 50 crore. The funds are focused on early-growth stage companies to help them scale and expand.
Finvolve is a joint programme launched by India Accelerator and Finolutions, a GIFT City-based B2B firm.
The firm also announced the launch of new funds, with an investment capacity of around Rs 500 crore. The funds are aimed at expanding its investment spectrum across accelerator, seed, and scale stages.
The accelerator fund will invest $150,000 per startup, with $500,000 to $1 million designated for the seed fund and $1 to $3 million allocated to the scale fund.
“It is a significant shift for us to evolve into a multi-stage fund. The initiative will provide comprehensive support to startups from ideation to IPO, ensuring they have the resources and expertise needed to succeed in a competitive global market,” Apoorva Vora, Co-founder of Finvolve said.
Finvolve has already invested in enterprises such as Matter, Inc 42, Stage, Advance Mobility, and Zulu Defence.
The firm has created ambitious theses for fragmented industries with long-term growth potential, such as unmanned vehicles, space, energy, mobility, and impact, Ashish Bhatia, Co-founder of Finvolve, said, adding that with this fund close and new offerings, it aims to drive further technology innovation in these sectors.
Edited by Affirunisa Kankudti