Entrepreneur-turned-angel investor Sanjay Mehta, who has invested in over 130 start-ups, has launched a new venture capital fund, 100X.VC, and aims to invest in 100 early-stage start-ups over the next year.
The new firm will invest ₹25 lakh to ₹1 crore in start-ups with disruptive business models.
100X.VC would be the first fund to invest using iSAFE note (India Simple Agreement for Future Equity), an alternative to a convertible security note.
iSAFE, which avoids tedious documentation and cuts timelines significantly, permits an investor to make cash investments in return for a convertible instrument.
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