Sanjay Mehta-led 100X.VC appoints Utpal Doshi as a partner to lead corporate venture capital practice
- ByStartupStory | July 6, 2022
Utpal Doshi has been appointed as a partner to supervise the corporate venture capital operations of early-stage investor 100X.VC, was announced on Tuesday. Doshi, a tax and financial expert with more than 20 years of expertise, will provide strategic expansion and market research advice for CVC.
Doshi has also been involved with early-stage investment companies including LetsVenture, Inflection Point Ventures, and CIO Angel Network as an active angel investor. With Doshi’s addition, 100X hopes to have access to reliable transaction flow that aligns with the long-term goals of the corporates in order to unlock strategic, financial, and technological ROI (return on investment). Corporate venture capital firms have developed into a significant source of funding for entrepreneurs over the years. Businesses like Reliance, Tata, Aditya Birla, and Mahindra strategically invest in businesses developing complementary technology or operating in similar industries in order to construct an ecosystem of connected services.
“Today, the corporate venture offers businesses a fresh, more reliable way to stay ahead of the curve. I’m eager to assist corporations in finding trustworthy deal flow where 100X.VC predominates, added Doshi.
Sanjay Mehta, Ninad Karpe, a former CEO of Aptech India, Shashank Randev, the creator of VCCEdge, a platform for data intelligence, Vatsal Kanakiya, an engineer who had previously held the position of CTO at 100X, and Yagnesh Sanghrajka, the company’s chief financial officer, founded 100X.VC.
The early-stage fund said last week that it intends to double down on its investments in the present market environment by raising its average ticket size to Rs 1.25 crore from Rs 25 lakhs and aspires to support up to 100 companies each year in an exclusive interview. For 7% equity, the company used to issue a cheque for Rs 25 lakh. Currently, it contributes up to Rs 1.25 crore for 15% ownership in the firms. 80 investments have been closed by 100X.VC since its start in 2019.
Follow Startup Story
Related Posts
