Early-stage venture capital firm 2am VC on Thursday launched its second fund and aims to back 30 Indian startups, predominantly at the Pre-Seed to Seed stage.
The fund will invest in startups in consumer tech, fintech, food and beverage, AI, and global SaaS,” the VC firm said in a statement.
It plans to commit 60% of the fund to initial investments, and the remaining 40% to support founders in follow-on investments.
The firm, which has offices in Mumbai, Bengaluru, Delhi NCR, and Los Angeles, connects global investors with Indian founders as a hyperlocal partner, and curates deal flow for global investors into the next generation of Indian founders.
Led by Founding Partners Hershel Mehta and Brendan Rogers, 2am VC aims to upend market biases to reintroduce global investors to the New India opportunity, challenging many outdated misconceptions about India’s venture ecosystem, the VC firm said.
“Leveraging our extensive resources in the Indian ecosystem accumulated through years of startup investment and first-hand experience building companies from the ground-up, 2am VC strives to provide best-in-class support and resources to help Indian founders bring their businesses to the next level,” said Mehta, Founding Partner, 2am VC.
The VC firm had closed its Fund I with $10 million. It has so far invested in 47 companies including NEWME, Apna Mart, Bimaplan, and Karbon Card.
“We recognise that the next stage of development of Indian startups will be driven by young and first-time Indian founders building companies that are uniquely Indian, and we at 2am VC aspire to be their guides in bringing these dreams to life,” said Rogers, Founding Partner, 2am VC.
