3one4 Capital raises $100 million fund to invest in tech-led startups
Category: #headlines  By Pranali Mehta  Date: 2020-09-04
  • share
  • Twitter
  • Facebook
  • LinkedIn
3one4 Capital raises $100 million fund to invest in tech-led startups

3one4 Capital, a venture capital firm in India, has recently raised funding worth $100 million. It is the 3rd and largest fund raised by the firm to significantly invest in the tech-led startups, which was managed by Siddharth Pai and Pranav Pai, sons of TV Mohandas Pai, former Infosys senior executive.

The venture capital firm has raised nearly 40% of the total fund. Around 30-40% of the fund will be raised by new investors, while the remaining will come from the existing limited partners (LPs). The company is targeting to close the funding within the next 12 to 18 months.

As per a reported statement made by the founding partner of 3one4, Pranav Pai, the recent funding round will enable the company to continuously aid various startups via its services as well as enter new sectors for enhanced customer reach.

3one4 has been serving a wide range of companies namely Yulu Bikes, Open and Jupiter (neobanks), Darwinbox (software startup), Mitron (social media app), and Licious (meat delivery startup). The capability of the company to raise new funds amid the pandemic can be attributed to its portfolio companies as well as online services that have benefitted businesses by boosting the digital consumption.

The latest funding round is backed by Emory Investment Management (large U.S. endowment), Sojitz (Japanese corporation), Catamaran Ventures, Infina (private investment company), as well as other institutions and family offices in India.

The new funds have been raised by 3one4 to extensively invest in agricultural technology and health startups. Additionally, the fundraising event demonstrates a relatively positive environment for investors. The pandemic has spelled doom & gloom for the economy as well as the startup ecosystem across the country, leading to a sharp decline in revenue, suspension of deals, and employee layoffs.

Since then, venture capital firm, Sequoia India has closed funds of $1.35 billion, which is expected to be deployed in the coming years. Moreover, Lightspeed India also has raised funding worth $275 million.

Source credit:

https://www.moneycontrol.com/news/business/3one4-capital-to-raise-100-million-third-vc-fund-5788321.html

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

Read More >>

More News By Pranali Mehta

Sun Pharma inks deal to commercialize Winlevi in Canada and the U.S.
Sun Pharma inks deal to commercialize Winlevi in Canada and the U.S.
By Pranali Mehta

Cassiopea S.p.A will be the exclusive supplier, as per the new agreement. Sun Pharma’s share price grew by 1.06% to 9.43 USD following the announcement. Sun Pharmaceutical Industries Limited announced to have signed an agreement with Cassi...

Facebook’s cloud gaming services launched for iPhone and iPad users
Facebook’s cloud gaming services launched for iPhone and iPad users
By Pranali Mehta

Users from Mexico, Canada, and the United States can now stream Facebook Games on Apple devices. Facebook Games has more than 1.5 million active users per month and is currently offering 25 cloud-streamed games. American social media giant Face...

Clubhouse ends invite-only access; now open for all iOS, Android users
Clubhouse ends invite-only access; now open for all iOS, Android users
By Pranali Mehta

The audio chat forum Clubhouse recently ended its invitation-only mode and opened its virtual rooms for all users. The waitlist system has been removed and anyone using iOS or Android smartphones can join the chat now. The founders Rohan Seth and Pa...