Warmup Ventures launches Rs 300 cr fund to back early-stage startups

Warmup Ventures has launched a second fund that has a corpus of Rs 300 crore for investments in 25-30 early-stage startups across India, said the VC company on Tuesday.

By Connect Gujarat Desk 17 Dec 2024 in Business

New Update

Warmup Ventures launches Rs 300 cr fund to back early-stage startups

Advertisment

Warmup Ventures has launched a second fund that has a corpus of Rs 300 crore for investments in 25-30 early-stage startups across India, said the venture capital (VC) company on Tuesday.

Advertisment

Warmup Fund II, a Category 2 AIF (alternate investment fund), will focus on sectors like deep tech, climate and sustainability as it makes individual investments of Rs 5-7 crore and a provision for follow-on rounds.

Warmup Ventures was founded by Sharad Bansal, Rajendra Lora, and Yogesh Chaudhary, who over the past six years have invested in more than 100 startups through combined angel investments.

Since its inception in mid-2023 as a syndicate fund, Warmup Ventures has invested in more than 15 startups that include Bobabhai, Nitro Commerce, and Balwaan Krishi. These companies have made "significant strides" in scaling operations and attracting funding from other investors, said the statement, adding that Bobabhai has expanded to 45 stores nationwide, while Nitro Commerce has on-boarded over 200 brands.

The VC firm said it aims to bridge the gap between India’s business heritage and its innovation economy by connecting family offices and second-generation entrepreneurs with "future-forward" startups.