247VC Launches Early-Stage Investment Fund in India

247VC has introduced its inaugural investment fund dedicated to early-stage startups in India. The fund has an initial capital of Rs 200 crore, with a possibility to increase this by an additional Rs 50 crore. It operates under SEBI’s Category II AIF regulations.

Leadership and Background of 247VC

The venture capital firm is spearheaded by Yagnesh Sanghrajka and Shashank Randev, both seasoned investors in the startup ecosystem who previously co-founded 100X.VC. They departed from that firm in late 2024.

Investment Strategy and Focus Areas

247VC aims to support approximately 30 startups over the next three years. The average investment per startup is expected to be around Rs 7 crore, with amounts starting between Rs 3-4 crore and increasing dependent on performance.

The fund’s focus will be on consumer-facing businesses, enterprise software, advanced manufacturing, and deep technology sectors.

Support and Partnerships

Some initial investors in the fund include Sachin Tagra from JSW Ventures, Vivek Mathur, a former partner at Elevation Capital, and AI specialist Shailendra Majmundar from Johns Hopkins University.

The team aims to achieve the first closing of the fund within a span of four months. Sanghrajka noted that even though early-stage funding faces challenges, the entry of larger investors into seed rounds has created opportunities for collaboration. The firm plans to engage in co-investing with larger funds as part of its overall strategy.

Past Accomplishments

The founders have previously supported various startups such as Knight Fintech, abCoffee, EMO Energy, and Zeron.