3one4 Capital Fund has launched a Continuum I fund, and has received investments from Japanese conglomerate Sojitz Corporation in India.

3one4 Capital is a Bengaluru-based early-stage venture capital firm backed by former Infosys CFO T V Mohandas Pai and founded by Pranav and Siddarth Pai.

This fund has a target corpus of ₹350 crore ($50 million). Out of this, ₹150 crore has already been committed to the Continuum I fund. The fund will invest in some of the portfolio companies out of the 3one4 stable, which has invested in start-ups such as Licious, Better Place, and Darwin Box.

The fund will focus on Series B and beyond rounds from the 3one4 Capital portfolio, with funding ranging in the $3-5 million bracket.

Top-tier investors

Further, a top-tier university endowment in the US, which has a $7-billion portfolio of global investments, is an investor in Continuum I.

The fund’s objective is to develop a strategic and long-term partnership with top-tier institutional pools of capital globally, and help improve access to growth capital for the portfolio companies across 3one4 Capital’s funds. 3one4 Capital Fund I was launched early in 2016 with a corpus of ₹100 crore. The follow-on fund was ₹250 crore in size and was oversubscribed, which was subsequently launched in 2017.

Pranav Pai, Founder of 3One4 Capital, said: “With large strategic and financial institutional investors entering the fund, we continue to have an excellent and intellectually diverse set of minds who bring advantages to the fund and its portfolio companies.”

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