3one4 Capital announces closure of Continuum I and Rising I funds

Bengaluru-based 3one4 Capital, an early stage venture capital fund, announced the successful closure of two new funds - 3one4 Capital Continuum I, a dedicated opportunity fund, and 3one4 Capital Rising I, a dedicated seed fund.

3one4 Capital is founded and managed by Pranav Pai and Siddharth Pai, sons of former Infosys honcho TV Mohandas Pai.

Continuum I will focus on Series B plus rounds of companies from the 3one4 Capital portfolio with cheque sizes between $3 million to $5 million.

A 2019 vintage vehicle, Continuum I had targeted ₹350 crore ($50 million) and announced its first close in February 2019 for ₹150 crore. The fund currently stands over-subscribed with a confirmed ₹400 crore ($56 million) in commitments towards its final close.

Pranav Pai, Managing Partner of 3one4 Capital, said: “With large strategic and financial institutional investors entering the funds, we have an excellent set of minds who bring unparalleled advantages to the firm and its portfolio companies.”

He added, “These new LPs will explore co-investment opportunities in rounds raised by the portfolio companies and will work closely with the founding teams to help deploy and scale their value propositions globally.”

Rising I is a dedicated seed fund that will focus on investing in the very first rounds of companies pursuing markets where 3one4 has developed core sets of thesis. Rising I will enter idea stage and seed stage companies with cheque sizes between ₹50 lakh and ₹3.5 crore ($100,000 to $500,000).

Rising I

A 2018 vintage vehicle, Rising I had targeted ₹25 crore ($3.5 million) and completed its first close in December 2018. The fund currently stands over-subscribed with ₹45 crore ($6.5 million) in commitments towards its final close.

“At 3one4, we believe that the Indian start-up ecosystem has achieved critical mass and now supports the development of market-leading businesses at scale. Our deep involvement model has helped our companies optimise for defensibility and growth in revenue and scale,” said Siddarth Pai, Managing Partner, 3one4 Capital.