247VC launches India fund with a target corpus of Rs 250 Cr
The fund plans to invest in 30 seed-stage Indian startups that fall under the broad themes of consumption, deeptech, enterprise tech, and Industry 5.0.
247VC, founded by Yagnesh Sanghrajka and Shashank Randev, has rolled out its India Fund I, with a corpus of Rs 200 crore and a greenshoe option of Rs 50 crore.
The seed-stage VC firm will look to invest in 30 startups in the next three years. While sector agnostic, the Mumbai-based firm aims to focus on four major themes in this fund, namely, consumption, deeptech, enterprise tech, and Industry 5.0.
“India is entering its most exciting startup decade. With this fund, we’re doubling down on our mission to
back ambitious founders at the seed stage - those who are obsessed with solving hard problems and
building for scale. With experience across 200+ early-stage investments, we know how tough the 0 to 1 journey is,” said Founder and Managing Partner Sanghrajka in a statement.
Backed by some marquee early backers including Sachin Tagra, Managing Partner at JSW Ventures; Vivek Mathur, ex-Partner at Elevation Capital; and Shailendra Majmundar, Gen AI and Machine Learning (ML) expert, John Hopkins University, 247VC has previously backed companies like EMO Energy and abCoffee, among others.
247VC is the latest VC firm to launch a new fund, joining the long list of firms that have launched India-focused funds this year, including Accel and many more reportedly eyeing to launch their funds— indicating a resurgence of venture capital funding into the Indian startup ecosystem on the backs of the rising number of VC-backed firms looking to list on public bourses.
“We’ve spent the last decade backing founders, building with them, and learning from every cycle of scale. This fund is not just a next step, it’s a focused leap toward the kind of audacious innovation Bharat needs. Our edge is hands-on experience, deep networks, and a relentless belief in our founders solving meaningful problems. We want to enable the next category-defining companies, especially where markets are still forming or yet to be discovered,” said Randev, Founder and General Partner at 247VC.
Edited by Kanishk Singh