3one4 Capital, the Bengaluru-headquartered early stage venture capital fund has announced the raising of its second round of funding with a commitment of Rs 250 crore which saw participation from Infosys founders – NR Narayana Murthy, Nandan Nilekani and other marquee investors.
3one4 Capital, the Bengaluru-headquartered early stage venture capital fund has announced the raising of its second round of funding with a commitment of Rs 250 crore which saw participation from Infosys founders – NR Narayana Murthy, Nandan Nilekani and other marquee investors. According to the VC fund, it had an initial target corpus of Rs 150 crore that was fully subscribed to within a quarter of the fundraise that was initiated in 2017. With an oversubscribed interest in the fund, the fund managers decided to exercise the greenshoe option of an additional Rs 100 crore, it said in a statement. 3One4 Capital was founded in 2016 by Pranav Pai and Siddarth Pai, sons of former Infosys board member and venture capitalist TV Mohandas Pai. Prior to this second fund raise, it had earlier raised Rs 100 crore. In the second fund raise, the key investors who have put in their money also include S Gopalakrishnan and S D Shibulal, founders of Infosys, Ranjan Pai of the Manipal Medical and Education Group, Madhusudan Kela, former head of Reliance Capital and also Reliance Ventures.
The fund will continue to focus on the early stage, with cheque sizes between $250k to $2 million and a high reserve ratio for follow-on funding. The fresh funding will continue with this investment strategy. The focus areas include machine-driven actionable intelligence services for the enterprise automation, ambient intelligence technologies, edtech, fintech, media and content development, and health. “With this new corpus, the team will look to enhance its deep involvement model across its investment domains and work more closely with the founding teams to launch new and important value propositions at scale,” it said. 3one4 Capital Fund primarily invests in companies which has a focus on the Indian market but also invests a portion of its capital in US-focused companies that have feedforward effects into the themes being pursued in India.