Bengaluru-based early-stage venture capital firm 3one4 Capital has announced $100 Mn fund as the young investment firm looks to back more early-stage startups in the world’s second largest internet market.
3one4 Capital is a venture capital firm based in India founded by Pranav Pai and Siddarth Pai, sons of TV Mohandas Pai, a widely respected industry figure who served as a senior executive at Infosys — has backed more than 50 startups.
The company’s portfolio includes meat and seafood company Licious, blue collar employee management platform BetterPlace, neobanking platform Open, biopharma startup Bugworks, end-to-end enterprise HR software solution DarwinBox, digital content house Pocket Aces, P2P lending platform Faircent, lending startup LoanTap, digital banking company Jupiter and e-mobility startup Yulu.
The firm will invest the funds in 25-30 tech startups across segments. The latest fund will increase 3one4 Capital’s assets under management to over $210 Mn. The fund will invest an average ticket size of $500K to $4 Mn in startups working in the software-as-a-service (SaaS) domain, enterprise automation, direct-to-consumer (D2C), media and content, fintech, and deep technology.
Further, the fund will cover sectors such as health, machine-driven intelligent services, edtech, agritech, logistics and distribution, food-tech, mobility, Indian language-focused applications and more.
Pranav Pai, Managing Partner, 3one4 Capital said, “Our investor base now combines an intellectually-diverse and globally-positioned pool of resources that provide a consistent competitive edge to the firm and its portfolio companies.”
Siddarth Pai, Founding Partner at 3one4 Capital, said, “With this new fund, 3one4 Capital is purpose-built to be deeply involved across the lifecycle of the next innovation engines from India. Our deep involvement model is designed to help founders optimize for sustainable growth by serving as a force multiplier on the path towards defensible long-term value creation.”
The investment from strategic corporations and investors will offer more meaningful capital through the firm’s bottoms-up selection routines to discover more scalable tech-based startups believes Pranav.