To boost early growth stage start-ups and EV’s, Java Capital to invest INR. 75 crores
- ByStartupStory | December 12, 2022
On Tuesday, Capital A, a venture fund for seed to early-stage constructive start-ups, announced the launch of a USD 10-million (roughly Rs 75 crore) cleantech fund. This fund will be used to fund EVs and start-ups in the related ecosystem, such as those that charge batteries.
Ankit Kedia, the founder of Capital A, said in a statement, “We aim to back founders building impactful start-ups. We have launched the fund after having developed an active thesis and forging industry partnerships that enabled us to gain deep insights into the Indian EV market.
“Funding support for promising EV OEM (original equipment manufacturer) start-ups and businesses engaged in developing charging, battery management, and battery technology segments is currently required.
A portfolio of 15 to 20 startups with an average first cheque size of INR 2 crore is what the recently established fund plans to build after already beginning to invest in pre-seed to pre-series A startups. 50% of the fund will be set aside for additional investments in top-performing portfolio companies. Agnikul, KukuFM, BharatX, Better Opinions, Yellow Metal, The Eplane Company, Kindlife, Legistify, and other startups were among the 23 startups in which Java Capital had previously invested. Java has been the first round in 40% of these companies. More than 50% of the portfolio received additional funding in subsequent rounds. Following Java’s investment in them, four of these businesses were chosen for the Y-Combinator accelerator programme. Java’s portfolio is currently valued at $385 million overall.
Bhargavi V, Vinod Shankar, and Karteek Pulapaka, three career venture capitalists and enablers of the startup ecosystem, founded Java Capital in 2020. The managing partners formed Java Capital after combining their combined 25+ years of experience in pre-seed, seed, and early-stage investments. The team has extensive experience & expertise in a variety of industries in addition to being pre-seed to series A experts.
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