As the number of early-stage deals dipped last year, Bengaluru-based 3one4 Capital kept up its pace. With 40 companies in its portfolio already, it is now ready to add more, having recently closed its second fund of Rs 250 crore ($39 million) that exceeded its initial target.
3one4 Capital was founded in 2015 by Pranav Pai and Siddarth Pai, sons of TV Mohandas Pai, a former senior executive at Infosys Ltd and an active angel investor. It had launched its first fund in early 2016 with a corpus of Rs 100 crore. It has since invested in a number of companies, including Darwinbox, Licious, Bugworks, Magic Crate, Oust Labs and Faircent.com.