Comments
PointOne Capital, a pre-seed focussed VC fund, recently announced the first closing of its maiden fund.
The SEBI registered CAT-1 AIF, which targets early-seed stage start-ups, plans a total corpus of ₹50 crore with a ticket size of up to ₹1 crore per start-up. Although largely sector-agnostic, the fund is primarily targeting large untapped opportunities in fintech, consumer internet, gaming, SMB SaaS, enterprise SaaS, healthcare and edtech. It plans at least one investment per month going forward.
The fund counts successful entrepreneurs, PE and VC firm partners, CXOs and seasoned senior corporate leaders as its LPs. PointOne aims to solve the funding gap for start-ups at the pre-product and revenue or the beta launch phase, with very early traction. The team comes with experience and success in early-stage investing and includes Archana Priyadarshini, Mihir Jha and Ravish Ratnam. All the three have collectively worked with over 1,000 start-ups. Closing over 60 investments in their tenure apart from collaborating with 100-plus VC funds and 1,000-plus angel investors, provides them an edge in identifying success patterns and enabling future rounds of their portfolio companies.
ALSO READ: ‘EdTech start-ups on a roll, raise funding of $2.2 b in 2020’
Mihir Jha, Managing Partner, PointOne Capital said “Raising funding at a beta stage is challenging for founders — it becomes too risky vis-a-vis the traction for larger VCs unless the founders come with a proven entrepreneurial track record. We are willing to take those risks in favour of the opportunity and the new insights the team brings to the table.”
“Another problem is feedback in cases where an investor is not interested in investing. PointOne believes in changing that paradigm. Our conviction is that a pointed feedback at early stages of venture building will contribute manifold to increasing the overall efficiency of the Indian start-up ecosystem. We aim to provide this to every entrepreneur whom we engage with,” he said.
ALSO READ: PE-VC investments fell by 8% in January-November
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.