GrowthCap Ventures Secures Rs 20 Crore for Early-Stage Investments in Fintech, SaaS, and Deeptech Startups

• ByStartupStory     |    February 9, 2024

GrowthCap Ventures, a category II AIF fund, has announced the successful securing of an initial funding of Rs 20 crore. The firm is now set to embark on a mission to invest in early-stage startups specializing in Fintech, SaaS, and Deeptech, offering funding in the range of Rs 2 crore to Rs 6 crore. With a focus on redefining the early-stage investment landscape, GrowthCap Venture’s inaugural Operator VC fund aims to support 10-12 startups over the next 20 months.

Pratekk Agarwaal, the founder and General Partner of GrowthCap Ventures, expressed his excitement about the fund’s prospects, stating, “For our inaugural fund, we have selectively garnered investments from accomplished operators who have successfully built large organizations. This exclusive funding opportunity is by invitation only.”

The fund boasts a powerhouse lineup of LPs and mentors, including industry giants like Beerud Sheth of Gupshup, Shankar Vailaya of ShareKhan, Naresh Naik of Irep Capital, Deepak Sharma (Ex CDO Kotak Bank), Ankur Jain of Incred, Sanjit Nagarkatti, Gaurav Bhojak of IIFL, Ravi Shankar, Rishi Dhandia, Atul Shekhavat, Prasanna Lohar & Ritesh Jain, setting the stage for their investment journey.

Agarwaal revealed plans to leverage this interest in the next fund, which is projected to be a winners fund with an estimated size of approximately Rs 250 crore. He stated, “We are excited about the prospects ahead and remain committed to fostering innovation and growth in the Fintech, SaaS, and Deeptech sectors.”

The uniqueness of GrowthCap Ventures lies in its Operator VC model, a pioneering approach that prioritizes exceptional founders with a tech-first mindset and profound product insights. Eligibility for investment demands not just potential but demonstrated early traction and scalability.

Agarwaal emphasized that GrowthCap Ventures is not just a source of capital; it’s a strategic partner committed to actively engaging with portfolio companies. The approach involves providing a unique blend of operational expertise, tailored advisory services, and market access, backed by the influential mentorship of industry stalwarts. With a background from IIM-Kozhikode and a history with companies like Bajaj Finsev, Fullerton India, Indostar Capital, and BharatPe, Agarwaal brings a wealth of experience. Having already invested in over 35 companies and advised numerous startups, his track record includes names like Decentro, Vegapay, Klub, Karmalife, Fundly, Transbnk, Coverself among others and also has returned 100% IRR to investors in some early bets he took.

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