Barely nine months after closing its last two funds, early-stage venture capital firm 3one4 Capital has announced the launch of its third $100-million early-stage VC fund, which, like previous vehicles, will invest in early-stage tech startups in India.
In a statement 3one4 Capital said, Fund III has already reached the first close, and subscribed more than 40% of its targeted corpus of $100 million with commitments from new and existing investors, including family offices, endowments, foundations, as well as corporate and financial institutional investors.
The fund will increase the firm’s capital under management to over Rs 1,550 crore.
“At 3one4 Capital, our objective is to work with Indian entrepreneurs and help build transformative companies. By deepening our access to strategic corporations and investors, we can now direct more meaningful capital through the firm’s bottoms-up selection routines to discover the next set of generational tech companies from India,” Pranav Pai, Managing Partner, 3one4 Capital said.
Fund III is targeting to invest in about 25-30 early-stage startups with ticket size ranging between $500,000 to $4 million. Its focus areas include a range of themes such as SaaS and enterprise automation, direct-to-consumer, media & content, fintech, and deep technology. Within these themes, the fund will cover sectors such as health, machine-driven intelligent services, edtech, agritech, logistics and distribution, food-tech, mobility, Indic language-focused applications, and more.
“The current paradigm shift has demanded the acceleration of disruptive business models and a rebalancing of the early-stage investment lens. With this new fund, 3one4 Capital is purpose-built to be deeply involved across the lifecycle of the next innovation engines from India,” Siddarth Pai, Managing Partner, 3one4 Capital said.
Overall, the firm has raised a total of four funds prior to Fund III, including a dedicated seed fund, Rising I, and a dedicated opportunity fund, Continuum I. Some of its investments include Licious, BetterPlace, Open, Bugworks, YourStory, DarwinBox, Pocket Aces, Faircent, Begin, LoanTap, Jupiter, Yulu, and Tracxn.