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Wednesday, April 24, 2024

Sanjay Mehta’s Micro VC fund invests $4M in 25 Indian startups

The sector-agnostic fund invested INR 1.25 Cr in each of the 25 firms, for a total investment of around $4 Mn.

With the completion of its ninth cohort, the fund claimed to have made 100 investments thus far.

The eighth cohort’s 25 businesses hail from 11 Indian locations, including Jaipur, Hyderabad, Bhopal, and Chennai.

Micro VC fund, 100X.VC, announced that it has invested in 25 Indian businesses for its eighth batch, dubbed ‘Class 08’.

The sector-agnostic fund invested INR 1.25 crore in each of the 25 firms, for a total investment of almost $4 million.  The fund stated in a statement that it worked directly with the firms’ founding teams, coached them to improve products, and assisted them in scaling up. With the end of its ninth cohort, the fund claimed to have made 100 investments.

Ninad Karpe, a partner at 100X.VC, said, “We are thrilled to inform that we have reached our 100-investments objective in 3.5 years since the start of 100X.VC. We think these founders are creating moonshots in their respective industries and are thrilled to be a part of their journey.”

100X.VC is a SEBI-registered fund founded in 2019 by angel investor Sanjay Mehta’s family firm Mehta Ventures.

It announced in April of last year that it had picked ten firms for its seventh cohort, dubbed ‘Class 07’. The eighth cohort’s 25 companies hail from 11 Indian cities: Mumbai, Bengaluru, Delhi, Pune, Jaipur, Hyderabad, Bhopal, Chennai, Noida, Kolkata, and Varanasi.

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