According to Java Capital, the fund’s initial closure was at INR 30 Cr, and a final closure is anticipated over the following six months. The fund will invest in 15-20 pre-seed, seed, and pre-series A firms active in the deeptech, SaaS, enterprisetech, and fintech sectors, with an average ticket size of INR 2 Cr.
In order to invest in companies over the next 18 to 14 months, Java Capital, an early-stage investment business, said on Monday that it has started its first fund with a corpus of Rs 75 crore. The fund has completed its initial closure at Rs 30 crore, and the business aims to complete a full close over the next six months.
Java Capital, an AIF registered with Sebi, announced the opening of its “first fund with a corpus of Rs 75 crore, including a greenshoe option of Rs 25 crore.”
The recently created fund has already begun funding pre-seed to pre-series A businesses and intends to amass a portfolio of 15–20 firms with an average initial check size of Rs 2 crore.
According to the announcement, the fund would set aside 50% to make further investments in its top-performing portfolio firms.
“In firms seeking to raise pre-seed to pre-series capital, the Fund will take part and make investments as the lead investor.
Among a financing that spans the deep-tech, SAAS, enterprise tech, finance, and climate & sustainability sectors, Java has already invested in four businesses from this fund, “It was excellent. 23 firms, including Agnikul, KukuFM, BharatX, Better Opinions, Yellow Metal, The E-plane Company, Kindlife, Legistify, etc., have received funding from Java Capital.
In 40% of these businesses, Java has been the driving force behind investment rounds. More than 50% of the portfolio received further investment in subsequent rounds.
After receiving financing from Java, four of these businesses were chosen to participate in the Y-Combinator accelerator programme.
According to the announcement, Java’s portfolio is now valued at USD 385 million (about Rs 3,180 crore).
Bhargavi V, a partner and co-founder of Java Capital, stated: “We are very pleased to announce the opening of our fund, and we are firm believers in the long-term economic potential of India. In the genuine spirit of long-term games with long-term people, we collaborate with our ecosystem and partners to produce major results for society as a whole.”