Finvolve, a micro-VC built on its widespread and deep B2B foundation, announced the closure of the first Rs. 100 crore fund, raised collectively from prestigious families and marquee investors.
While this fund focused on early-growth stage companies to help them scale and expand, co-investing with other investors, the firm also announced the launch of two new funds, including a GIFT city with an investment capacity of around Rs 500 crore, to widen its investment spectrum: Accelerator, Seed, and Scale.
The pre-seed Accelerator Fund will leverage India Accelerator’s strength in building early-stage start-ups and shall be the first institutional investor in the selected start-ups, while the Scale Fund will invest in start-ups demonstrating significant traction and typically profitable companies. Finvolve is a joint venture between India Accelerator and Finolutions, both market-leading entities in their respective domains.
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Apoorva Vora, Co-Founder, Finvolve, said, “Though startups need capital to get off the ground, this fund closure is not just a financial resource but serves as a catalyst for innovation and opportunity. We also intend to target larger family offices and offer co-investment opportunities to them as part of this aggressive growth.”
Ashish Bhatia, Co-Founder, Finvolve, said, “We aim to capitalise on the financial market’s investment gap by sourcing and investing in opportunities that other funds are missing due to their size, networks, pipelines, and biases.”
As part of the allocation strategy, the funds will be deployed in three segments. An initial fund of $150K per start-up will be invested through the Accelerator Fund to help start-ups refine their business models and expedite their market entry. Furthermore, $500K–$1 million is designated for the Seed Fund to help startups scale operations, and a further $1–3 million is allocated to the Scale Fund to support more mature startups poised for expansion and potentially public offerings.
