SphitiCap, an India-focused, early-stage sector agnostic fund that funds firms from the seed stage to Series A, has announced the launch of its first Venture Fund with a total corpus of $500 million, which the firm is in the process of closing.
The early-stage fund encourages investments in businesses that adhere to the principles of sustainability, growth, and impact. It primarily invests in ten industries across India. The fund’s total corpus is 350 million, and it aims to value sustainable profitable growth with a well-defined exit strategy.
It pioneers Indian businesses by seamlessly and powerfully embedding large-scale capital raise and investor confidence eco-systems.
The startup ecosystem in India is thriving, and one of the most important aspects of it is Venture Capital Firms (VCs). Statistics show that even the most brilliant startup ideas with a great team fail due to a lack of sufficient funds in the early years of operation.
“Funding is extremely crucial; once startups and small businesses have reached the growth stage, a significant amount of money is required to enable them to escalate further smoothly. Formerly, banks and other related sources were the only forms of funding available for small businesses and startups. Thanks to the evolution of angel investors and top venture capital firms in India like Sphiticap, startups have access to more reliable forms of funding. Sphiticap works with enterprises, startups, and individuals with early-stage investments, incubation, growth fund, and impact acceleration, “ said in release by the company.
ClearDekho, India’s leading affordable eyewear brand, has recently received Series A funding from Sphiticap. SphitiCap is infusing USD 2.3 million (18 crores) of the total USD 5 million raised and has announced their second investment portfolio with a $11.5 million Series A Funding in PayVEDA, a leading solution-oriented fin-tech player bridging the financial gap (banking and non-banking) in underserved regions of India.
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