Sparrow Capital has raised Rs 475 crore (approximately $50 million) for its third fund, while 100×100 has launched its second fund (Fund II) with a target corpus of $100 million.
Sparrow Capital closes third fund
Sparrow Capital, an India-focused venture capital firm, has raised Rs 475 crore (approximately $50 million) for its third fund as it looks to ramp up investments in seed-stage startups across the country, per an announcement.
Around 60% of the fund’s corpus has come from global investors, including endowments, foundations, fund-of-funds, and family offices. The remaining capital has been raised from Indian family offices, high-net-worth individuals (HNIs), founders, and startup operators.
The firm plans to dole out to initial cheques of $1-2 million and back 25-30 startups over the next three years.
Established in 2020, Sparrow has backed over 40 startups, including GoKwik, Apna Mart, Deconstruct, and Optimist, among others.
100×100 launches Fund II
100×100, a climate-focused company builder and venture capital firm, has launched its second fund with a target corpus of $100 million, according to a media statement.
The firm, led by the team that co-founded Wavemaker Impact, said Fund II will be used to build and scale 50 startups focused on reducing greenhouse gas emissions across sectors.
“India is where climate urgency, economic momentum and exceptional entrepreneurial talent converge, and where companies that can deliver on that promise are still waiting to be built,” said Subhadeep Sanyal, Partner, 100×100.
“Together with Southeast Asia, we can target 10% of global emissions and through our venture-building pathway we want to create some of the most compelling investment opportunities which can scale,” he added.
