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3one4 Capital makes final close of its two new funds

Separately, the firm has also closed a Rs 45 crore seed-stage fund — Rising-I fund — that will back idea stage and seed-stage companies with cheque sizes of Rs 50 lakh to Rs 3.5 crore, and which has been backed by a clutch of existing and new Limited Partners.

, ET Bureau|
Updated: Dec 12, 2019, 08.32 AM IST
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With the closing of both new funds, 3one4 Capital now manages assets of about ?800 crore, across four funds.
NEW DELHI: Early-stage venture capital firm, 3one4 Capital, has made the final close of its latest fund — Continuum-I — at Rs 400 crore, as the Bengaluru-headquartered investor looks to double down on select bets in its portfolio.

Continuum-I, which had a target corpus of Rs 350 crore, is a build out fund that will focus on investing in a curated selection of the firm’s portfolio, participating in their growth-stage rounds, primarily Series B onwards, and investing $3-5 million in the companies. 3one4 Capital, typically, invests across the direct-to-consumer, media and content, fintech, enterprise automation and deep tech sectors. The firm, which counts the likes of human resources focused technology startup Darwinbox, fresh meat and seafood company Licious, neo-banking venture Open Financial Services and micro-mobility firm Yulu, has made about 50 investments so far.

Founded and run by Stanford University alum Pranav Pai and Siddarth Pai, sons of former Infosys senior executive TV Mohandas Pai, the firm has roped in Emory Investment Management — the $7 billion US endowment that manages the assets of Emory University, Emory Healthcare, and The Carter Center — as one of its anchor investors.

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Other new Limited Partners (LPs) in the new fund include Japanese conglomerate Sojitz, the personal investment arm of former Infosys CEO NR Narayana Murthy - Catamaran Ventures, and Infina Finance, the investment company owned by the Kotak family, among others. “These new LPs will explore co-investment opportunities in rounds raised by the portfolio companies and will work closely with the founding teams to help deploy and scale their value propositions globally,” Pranav Pai, managing partner at 3one4 Capital, said.

Rs 45 CRORE SEED-STAGE FUND
Separately, the firm has also closed a Rs 45 crore seed-stage fund — Rising-I fund — that will back ideastage and seed-stage companies with cheque sizes of Rs 50 lakh to Rs 3.5 crore, and which has been backed by a clutch of existing and new Limited Partners.

The firm has launched a new investment vehicle almost every year, deploying capital at a fast clip - typically in 12-18 months. “At 3one4, we firmly believe that the Indian startup ecosystem has achieved critical mass and now supports the development of market-leading businesses at scale. These companies combine deep domain expertise, sustainable competitive advantages and uncompromising customer experiences to build a gravity well around themselves,” Siddarth Pai, managing partner, said. With the closing of both new funds, 3one4 Capital now manages assets of about Rs 800 crore, across four funds.

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