OTP Ventures Eyes Rs 400 Cr in Debut Fund Close by June, Backed by Industry Veterans

• ByStartupStory     |    April 24, 2024

OTP Ventures, a newly formed venture capital firm led by Suhail Sameer, the former CEO of BharatPe, is poised to make a significant mark in the Indian startup ecosystem with its first fund close targeted at Rs 400 crore by June. The fund, launched in 2023, specializes in investing in early-stage companies across consumer brands, consumer technology, and fintech sectors.

Joining Sameer in this venture are Kunal Suri, former Managing Director of Foodpanda India, and Saurabh Vashishtha, who co-founded the video commerce app Simsim. The trio, which has been investing together since 2016 initially through private capital, has a deep-rooted history in the entrepreneurial community, having made over 65 investments in various startups.

“Being ex-founders ourselves, we believe we can help founders in their early years of building. We are available to founders when they need a sounding board to discuss critical matters affecting their business,” the partners shared on OTP Ventures’ LinkedIn page.

The venture capital firm has already secured necessary approvals to establish its fund and has lined up its first four early-stage investments. The fund’s first close is eagerly anticipated in the entrepreneurial community, reflecting the confidence and the track record of its founding members.

Among their notable personal investments are companies such as Mamaearth, Rupeek, Traya Health, FableStreet, The Whole Truth, OTO Capital, Nat Habit, Bare Anatomy, G.O.A.T Brand Labs, dezerv., Junio, Liquide, abCoffee, Hoop, and Rocketpay.

This strategic move comes a few months after Sameer stepped down as the CEO of BharatPe, signaling a new chapter in his career focused on fostering new talents and innovative ideas within the startup space.

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