US-based venture capital firm 2am VC has announced its plans to invest $10 Mn in more than 50 Indian startups by the end of next year.
Founded in early 2021 by Brendan Rogers and Hershel Mehta, 2am VC is focused on investing in early stage startups in India. The fund was established when the duo identified the immense amount of young, homegrown talent and the impending massive market potential.
The firm has already made 10 investments between April and August this year. In addition, it has made commitments to complete five more investments by the end of this quarter.
Its list of portfolio companies includes — insurance tech startup Bimaplan, fintech startup Karbon Card, and digital health and fitness platform BurnCal. In addition, 2am VC has co-invested with Titan Capital, 3one4 Ventures, Inflexor VC, 100X.VC, LSIP, Y-Combinator, India Quotient, Orios Ventures, and iSeed.
Rogers said, “I believe that India is the next Silicon Valley. With a rising number of people adopting digital products and the amount of capital being invested at the early stage, this rapidly growing ecosystem will continue to thrive. Having raised over $350 Mn from top global VC’s like Softbank and General Catalyst, uniquely positions me to help startups navigate fundraising landscapes.”
It is not just 2am VC that has been investing / betting on the growth of the Indian startup ecosystem.
Early-stage firm Prime Venture Partners recently closed its fourth fund at $100 Mn to make investments in at least 20 new startups. Besides, boutique investment banking firm Avendus recently made a first close of $78.5 Mn of its Future Leaders Funds II, which they plan on investing in emerging startups in the digital, consumption, and financial services domain.
Furthermore, Stellaris Venture Partner closed its second fund at $225 Mn and Chirate Ventures closed its fourth fund at $337 Mn earlier this month.
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