Mumbai, April 2nd, 2022:
100X.VC announces its plan to invest Rs 125 crores (over US $16.5M) in 100 early stage startups in the next 12 months. It will be the fastest deployment of first cheque capital by any VC in India for early stage startups. 100X plans to invest Rs 1.25 crore (US $165k) for 15% future equity ownership in each startup using iSAFE Notes.
On this announcement,Ninad Karpe, Partner, 100X.VC mentioned “We are delighted to take the next big leap in our commitment to become the finishing school for early stage founders and fund 100 moonshot ideas within the next 12 months. Beyond capital, 100X provides invaluable mentoring and advice to build exponential business models. There has never been a better time to invest in Indian startups and 100X will continue in its endeavour to provide credible deal flow for investors.”
Through its rigorous screening process, 100X.VC has invested in 80 startups after evaluating over 20,000 applications. Moreover, 100X.VC-funded startups have been able to raise over Rs 450 crore (US $60M) from various investors including growth VC funds, family offices, angel investors and corporate venture arms.
In this new model, startup applications will be reviewed, accepted and invested on a rolling basis with no deadlines. Investments will be completed through iSAFE Notes within two weeks of startup applications being accepted.
100X.VC is India's first venture fund to invest in early-stage startups using iSAFE (India Simple Agreement For Future Equity) Notes. It has screened over 20K deals to invest in 70 start-ups since its first round of selections in December 2019. As a Securities and Exchange Board of India (SEBI) Registered CAT I AIF investment adviser and the first Indian institutional investor in its portfolio companies, 100X.VC invests in a startup, effectively becoming their coach, strategy consultant, business mentor, and trusted advisor. Sponsored by Mehta Ventures, the fund works closely with founders helping them get to the next round of funding and beyond.
To know more, please visit: www.100x.vc/class08