Seed-stage venture capital firm 247VC today announced the launch of its India Fund I, with a targeted corpus of ₹200 crore and a greenshoe option of ₹50 crore, aiming to back 30 promising startups over the next three years. Founded by Yagnesh Sanghrajka and Shashank Randev, 247VC is sector-agnostic but will focus on four core investment themes: consumption, deeptech, enterprise tech, and Industry 5.0.
“India is entering its most exciting startup decade. With this fund, we’re doubling down on our mission to back ambitious founders at the seed stage — those who are obsessed with solving hard problems and building for scale. With experience across 200+ early-stage investments, we know how tough the 0 to 1 journey is,” said Yagnesh Sanghrajka, Founder and Managing Partner at 247VC.
The Mumbai-based firm is backed by prominent industry veterans and investors, including Sachin Tagra, Managing Partner at JSW Ventures; Vivek Mathur, ex-Partner at Elevation Capital; and Shailendra Majmundar, a Gen AI and Machine Learning expert from Johns Hopkins University.
247VC has already made early investments in innovative startups like EMO Energy and abCoffee, and the newly announced fund is poised to accelerate its support for category-defining companies. The firm’s goal is to identify bold, visionary founders in India’s rapidly evolving startup landscape.
“We’ve spent the last decade backing founders, building with them, and learning from every cycle of scale. This fund is not just a next step, it’s a focused leap toward the kind of audacious innovation Bharat needs. Our edge is hands-on experience, deep networks, and a relentless belief in our founders solving meaningful problems. We want to enable the next category-defining companies, especially where markets are still forming or yet to be discovered,” said Shashank Randev, Founder and General Partner at 247VC.
The launch of 247VC’s India Fund I adds to the growing momentum in India’s venture capital landscape, which has seen a resurgence in 2024 with the announcement of multiple India-focused funds, including those from leading players like Accel. This renewed investor confidence reflects the rising number of VC-backed startups preparing to go public, signaling a new wave of growth and innovation in the Indian startup ecosystem.
With this fund, 247VC is reaffirming its commitment to India’s next-generation entrepreneurs by providing capital, strategic guidance, and operational expertise during the most critical phase of their startup journey — the seed stage.
