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Early-stage venture capital firm Veda VC has announced the first close of its Rs 250-crore (around $30 million) fund led by family offices and start-up CXOs.
The SEBI-registered Category 1 AIF, which was started in 2019 by ex-entrepreneurs Vasant Rao, Ashis Nayak, Avijeet Alagathi, and Venus Dhuria, is looking to invest between $250,000 and $1.25 million in homegrown start-ups.
Veda VC has raised Rs 150 crore (around $18 million) with the first close of its maiden fund, and plans to invest in segments across software-as-a-service, fintech, deep-tech and consumer internet.
“In 2019, we began as a community of founders aiming to assist other founders at the angel stage. Veda has become one of the most active seed investors, investing approximately $10 million annually across various start-ups,” said Vasant Rao, Founder and Managing Partner, Veda VC, in a statement.
Veda has so far invested in 46 start-ups, more than half of whom have raised subsequent capital from marquee investors such as Sequoia, Accel, Kalaari Capital, Mayfair and 3one4 Capital. The fund’s portfolio includes Dukaan, Elo Elo, One Impression, Even Health, Rigi, Growth School, and Agnikul, among others.
Also read: Share of VC flows into Indian start-ups will double by 2030: S&P Global
The team at Veda helps its portfolio start-ups with domain knowledge, ecosystem network, and execution skills, to help them reach the product market fit and scale faster, and raise follow-on capital.
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