Indian VC firm Weave Capital launches $75 million venture fund
- ByStartupStory | August 9, 2022
On August 9, Tuesday ,Weave Capital, the venture arm of SPVH Group, said that it has launched a $75-million fund to invest in early-stage startups.
The sector-agnostic financing intends to invest in startups from the seed stage through the Series B round. It anticipates having a portfolio of 15-20 startups with average ticket sizes of $3-3.5 million.
The fund has applied for category II AIF registration and is awaiting approval from the Securities and Exchange Board of India. It will have a green shoe option of $25 million and hopes to see the first close at $20 million soon.
“Weave is the culmination of our insights and extensive know-how of the start-up ecosystem. Our team at Weave has led diverse and cross-sector transactions and growth advisory engagements both in India and overseas. Our intent now is to build inroads and ascend our position in the new shoes of Venture Investing.” said Karan Gupta the managing partner at Weave Capital
He further mentioned that the team at Weave Capital has expertise across areas like corporate finance, strategy, entrepreneurship, fund management and operations too. Karan Gupta had worked at Lodha Ventures and BDO India previously.
“Our ability to leverage our cross functional business, strategic relationships and in-house experts shall play an important role in the success of our portfolio, ” said Sujay Prakash who is the General Partner at Weave Capital.
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