Multiply Ventures raises Rs 260 cr via maiden fund focused on consumer tech

The Bengaluru-based VC fund said it exceeded its target of Rs 250 crore

funding
Until now, the fund has invested in 15 companies and plans to invest in eight to 10 more startups within the next 12 months
Sourabh Lele New Delhi
2 min read Last Updated : Jun 14 2022 | 11:24 PM IST
Multiply Ventures, an early-stage Venture Capitalist (VC) firm announced on Tuesday that it has raised Rs 260 crore through the closure of its maiden fund focused on consumer tech companies.

The fund, started by three former startup executives, received approval from the Securities and Exchange Board of India (Sebi) in 2020. It focuses on pre-seed or seed investment rounds and will be investing till Series A in companies that are growing efficiently, Multiply Ventures said in a statement.

Until now, the fund has invested in 15 companies and plans to invest in eight to 10 more startups within the next 12 months. Multiply Ventures specialises in four core sectors such as Fintech, Edtech, Retail, and Health. The majority of the investors are Indian family offices and digital-first entrepreneurs, the firm said.

Multiply Ventures aims to invest in very early-stage startups, and ideally be the first institutional investor to lead the round. “We are on our path to setting up an operational VC firm, joining hands with Startups as extended partners, which is essential for the Indian ecosystem,” said Bhushan Patil, Partner at Multiply.

The fund’s vision is to be one of India's most impactful early-stage VC players over the next five years. “While the digital ecosystem has evolved locally, many innovations across sectors will come from early-stage startups which will need support beyond the capital. The right selection, getting in early, and building for larger consumer segments have proven to get the best impact and investment returns for us and we will continue to build on this,” Patil added.

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