Micro VC fund Propell aims to invest in 30 early stage startups
Founded by LetsVenture co-founder Shanti Mohan, Propell will invest around Rs 50 crore and has already made 15 startup investments.
Propell, a micro VC fund founded by LetsVenture co-founder Shanti Mohan, is looking to invest around Rs 50 crore across 30 startups.
The fund, which was founded in late 2021, has already made 15 startup investments across diverse sectors such as ecommerce, fintech, SaaS, and D2C, with a focus on early-stage companies.
Among the portfolio of startups that Propell has invested include companies such as Jar, GoBillion, Zaamo, Aulerth, Seekho.ai, etc. The fund has co-invested with Y Combinator, Sequoia, Accel, Tiger Global, 3one4 capital, and several prominent angels.
On the launch of the fund, Shanti Mohan, Co-founder & CEO, said, “I believe this is a great time for me to invest and work closely with founders who are building for the next billion dollar opportunity in India. With the current slowdown, I do believe this is a great time for early-stage investors to work with some of the best founders building sustainable business models.”
Propell Fund is anchored by angels and professionals, including Vikas Choudhury (President, Reliance Jio, & Partner, Pivot Ventures), and supported by Vivek Khare (Advisor, Corporate Development and Early Stage Investments at Naukri.com), and Sudhi Herle (Engineering, Android Platform at Google).
Vikas Choudhury from Jio said, “The next 10 years of India’s growth will be significantly accelerated by the digital entrepreneurs in our country.”
Propell is a dedicated vehicle hosted on LetsVenture Angel Fund which is a Cat 1 Angel AIF.
Edited by Megha Reddy