Bengaluru-based VC firm 3one4 Capital raises Rs 1,600 cr in new fund

Bengaluru-based early stage enterprise capital firm, 3one4 Capital on Monday mentioned it has closed its fourth early-stage fund (sixth fund total) at $200 million (about Rs 1,600 crore).The fund was vastly oversubscribed inside a timeframe of two.5 months because the inception of the elevate course of, mentioned the VC firm.

“We are constructing 3one4 Capital to be the main Indian homegrown enterprise capital firm, and this requires us to set an instance of decadal self-discipline and constant efficiency,” mentioned Pranav Pai, Partner, 3one4 Capital.

“We can now proceed to direct extra significant capital to find the following set of generational tech leaders from India,” he added.

Although Fund IV of 3one4 Capital was oversubscribed to $250 million (Rs 2,000 crore), the firm has determined to stick to its disciplined mannequin and has lowered the accepted quantity to $200 million in order to keep up the fund’s supposed dimension.

In whole, the firm will handle Rs 3,710 crore ($510 million) of dedicated capital and over Rs 6,000 crore ($750 million) in belongings beneath administration. The cumulative market cap of the businesses in the portfolio is over $7.5 billion (Rs 60,000 crore).

Key traders in 3one4 Capital embody India’s three systemically vital banks, 5 of India’s largest listed banks by market cap, eight of India’s main mutual fund operators, main US college endowments, world sovereign funds, world firms and insurance coverage firms, main firms and a number of India’s largest household places of work.

The first shut of Fund IV was accomplished in March 2023, and over 5 offers have already been accredited or invested in. The closing shut is anticipated by the top of Q1 FY 2023-24.

3one4 Capital plans to proceed its early-stage technique, specializing in sectors equivalent to shopper web, SaaS, fintech, and Enterprise and SMB digitisation, whereas rising investments in newer areas equivalent to digital well being, local weather tech and extra.

“We will double down on India-specific companies, given our classes from market leaders equivalent to Licious, WeRize, and KukuFM, and can stay bullish on India’s consumption patterns,” mentioned Anurag Ramdasan, Partner, 3one4 Capital.

(With inputs from IANS)