Pre-seed focused VC fund PointOne Capital declared the last close of its maiden Rs 50 crore fund. The final close comes extremely close to its first close in December 2020. The fund, which essentially targets new businesses in the beta or pre-launch stage, has onboarded Silicon Valley and India-based business visionaries, CXOs and prepared corporate, startup pioneers and mid-sized family offices as its LPs. Among the 30 ventures that PointOne has made up until this point, 20 of them have been in 2021 with the ticket size of investments going from $100,000 to $150,000.
Creator economy, gaming, SMB focused SaaS products, enterprise SaaS, fintech, healthtech and edtech have been the primary investment categories.
Mihir Jha, founding partner, PointOne Capital said, “Macro sentiment in India has seen a clear shift towards tech and it was very apparent from the huge participation interest we received from investors across profiles, globally. Combining the fact that our ongoing portfolio wholly comprises category creators across sectors, we saw full subscription well ahead of expected timelines. We will continue on our philosophy of backing startups early with PointOne being an added hand in enabling them evolve into future category leaders.”
On the fund and it’s philosophy, Ravish Ratnam, founding partner added, “ With capital fast becoming a commodity, the tables have turned in the founder-investor relationship. Our final close will enable us to stick to our approach of quick decision making and non-intrusive value addition for our founders, thus making us a dependable partner for companies looking to raise their first round of capital. We have been fortunate to be associated with 30 startups already and will look to triple that number in the next 2 years.”
Some of these ventures have already raised their next round of funding through marquee global and Indian VCs in less than 6 months of PointOne’s investment. The fund uses its global network of LPs and Venture Partners in order to fast-track market and domain access for its portfolio.
Their portfolio includes startups like CreatorStack(Engagement tool for Creators), Blend.to(Mobile first Canva equivalent for SMBs), Inai.io(No code payments stack for cross border transactions), ConnectedH(Digitising diagnostics labs), Tamasha.live(Influencer hosted live games), Poshn.co(B2B marketplace for non-perishables), Seekho App(Byte-sized learning) among others.
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