The venture capital fund CapFort Ventures has announced the launch of a new Rs 200 crore fund to invest in 40 tech startups in the next two years.
The Category II AIF fund will be led by venture capitalist and former CEO of CapFort Ventures, Abhimanyu Bisht, along with angel investor Kavit Sutariya, founder of Hiraco Ventures.
The focus of the fund will be on investing in pre-series A stage startups valued under Rs 100 crore, operating in the fields of deep tech, cleantech, B2B tech, logistics, health tech, and other sectors.
The funding amount will range from Rs 2 crore to Rs 6 crore, with the average funding amount of around Rs 3-3.5 crore.
CapFort expects to secure capital for the fund from domestic investors, with the participation of institutional investors, family offices, and ultra High Net Worth Individuals (HNI). The first close of the fund is anticipated to take place by the end of the year.
Commenting on the launch, Abhimanyu Bisht, General Partner, CapFort Ventures, said, “The introduction of our Rs 200 crore India-focused tech fund is a strategic milestone for CapFort Ventures. At CapFort, we are forward-looking; our objective is to provide not only financial support but also invaluable guidance and mentorship to help entrepreneurs turn their visions into reality.”
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Kavit Sutariya, General Partner, CapFort Ventures, said, “As the third-largest startup economy, India has demonstrated the potential to be a superpower in innovation and profitability. Investing in high-potential technology startups, we aim to help disruptive entrepreneurs push the envelope of technological innovation which drives India’s next decade of growth.”