With a corpus of $500 million, SphitiCap has announced the opening of its first venture fund, which the company is currently closing. Investments in startups that adhere to the principles of sustainability, growth, and impact are supported by the early stage fund.
According to the statement, the Noida-based early-stage fund, which invests in startups from the seed phase to Series A, is now conducting due diligence on approximately 5 firms. This quarter, the fund also plans to invest in about 15-20 platforms.
The mission of SphitiCap, which was introduced in September by Sphitigram Ventures Pvt. Limited and run by experienced VCs Pallav Kumar Singh and Mayank Mehra, is to guarantee that the investor’s objectives are achieved through sensible investment methods and planning.
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“The investing landscape in India is exceptionally diverse. With new businesses sprouting daily, we are determined to decentralize the startup revolution and give impetus to founders who are resolved to make a difference and solve real-world problems. As a sector agnostic India-centred firm, we focus on value rather than valuation,” said Pallav Kumar Singh, managing partner, SphitiCap.
SphitiCap is an early-stage sector-neutral fund with a focus on India that primarily invests in 10 sectors there i.e., Clean-tech, Fin-tech, Deep-tech, Space-tech and Defence, Agri-tech, Prop-tech, SaaS, Digital Media, D2C, Logistics and Supply Chain Management.
“While most early-stage ventures are confident about the product they sell, there are often loopholes in their go-to-market strategy that can impact the overall revenue generation of the company, and therefore its scalability and profitability. We at SphitiCap will provide support to the chosen enterprises by building an engaging ecosystem and optimizing the ROI for our portfolio companies. We are excited to make a difference from the ground up,” said Sahana Goel, head of growth at SphitiCap.
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SphitiCap is a founder-focused, early-stage, venture capital fund primarily investing in the disciplines of growth, impact, and sustainability. ‘Sphiti’ stands for growth and prosperity and they take a community-led approach to achieve this. Their interactive enterprise ecosystem focuses on building synergies, cross-mentorship panel support, cross-sharing, and procurement.