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Merak Ventures, an early-stage venture capital (VC) firm, has announced its $100 million fund, through which it aims to invest in 18-20 start-ups over the next three-four years.
Co-founded by Manu Rikhye and Sheetal Bahl, the VC firm will invest in seed-stage B2B and emerging technology companies creating sustainable business models and utilising new technologies to help solve real problems and create large-scale impact.
While the fund will remain sector-agnostic, some investment themes it will proactively chase include ClimateTech (encompassing AgriTech, mobility, carbon, climate finance, and digital solutions), InsurTech, and Enterprise SaaS.
Sheetal Bahl and Manu Rikhye, Partners at Merak Ventures
Manu Rikhye, Partner, Merak Ventures, said, “The genesis of Merak is our success and learning while managing a fund, and the sustained confidence of our investors. There are passionate founders who want to solve real world problems and we want to empower them, not just with capital but as a mentor-partner. At Merak, we firmly believe businesses who solve authentic problems will always make for a sound investment.” Merak means doing something with passion, undivided attention; a labour of love.
Sheetal Bahl, Partner, Merak Ventures said, “Merak is the culmination of a decade of thinking, learning, and investing in the Indian start-up ecosystem. It represents our strong belief that financial gains and impact, whether on industry, people, or the planet, are not mutually exclusive. And it is built on the foundation of our passions – B2B and emerging technologies, and our values: boldness, empathy, fun. “
Both the founders are fund managers who have been investing in the Indian ecosystem for a decade now, of which the last six have been focused on B2B and deep emerging tech. growx Ventures Fund I, which they continue to manage, has a portfolio of 16 investments including companies such as Cynlr, Pixxel, and Progcap.
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