A Bengaluru-based stage venture capital firm 3one4 Capital (1) announced the first close of its 750 Crore INR Fund III to invest in 25-30 tech startups across segments. The current fund will increase 3one4 Capital’s assets under management to over 1,550 Crore INR.
The fund will invest a usual ticket size of 500 Thousand to 4 Million USD. The investment is into startups working in the software-as-a-service (SaaS) domain, direct-to-consumer (D2C), fintech, enterprise automation, deep technology, and media and content. Further, the fund will cover health, edtech, agritech, brilliant machine-driven service, mobility, Indian language-focused applications, etc.
The fund currently subsidizes more than 40% of its targeted corpus of 100 Million USD with new and existing investors’ commitments. These investors include family offices, foundations, endowments, as well as corporate and financial institutional investors.
Before this, 3one4 Capital raised four funds, a dedicated seed fund, Rising I, and a dedicated opportunity fund called Continuum I. Continuum I focuses on investing 3 Million to 5 Million USD in Series B and above round in existing portfolio companies. Rising I will infuse 59 Lakh to 3.5 crore INR into deals with idea stage and seed-stage companies, including new and follow-on investments.
Managing partners of 3one4 Capital on the Fund and Investment
Siddarth Pai, the managing partner at 3one4 Capital, said that the firm is to be deeply involved across the lifecycle of the next innovation engines from India with this new fund. Their deep involvement model is drafted to help founders optimize sustainable growth by serving as a force multiplier on the path towards defensible long-term value creation.
Pranav Pai, another managing partner at 3one4 Capital, said their investor base now combines an intellectually-diverse and globally-positioned pool of resources. It provides a consistent competitive edge to the firm and its portfolio companies.
He further added that the investment from strategic corporations and investors offers more meaningful Capital through the firm’s bottoms-up selection routines. That helps to discover more scalable tech-based startups.