Early Stage Investor 247VC Floats INR 250 Cr Maiden Fund

Former 100X.VC partners Shashank Randev and Yagnesh Sanghrajka have launched a new venture capital firm called 247VC. They’ve also announced their first fund, aiming to raise ₹250 crore (about $30 million).

The fund is registered with SEBI as a Category II AIF and includes a main fund of ₹200 crore, with an option to raise an extra ₹50 crore if needed.

247VC said it plans to back high-potential founders across different sectors, focusing mainly on four areas: consumer businesses, deeptech, enterprise technology, and Industry 5.0. 

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The fund will mainly support seed-stage startups, with extra fund set aside for future funding rounds. 247VC plans to invest in 30 startups over the next three years.

Around 50-55% of the fund will go toward initial investments, while the rest will be reserved for follow-up funding. The average initial investment will be between ₹3 crore and ₹4 crore.

“India is entering its most exciting startup decade. With this fund, we’re doubling down on our mission to back ambitious founders at the seed stage – those who are obsessed with solving hard problems and building for scale,” said Sanghrajka, founder and managing partner of 247VC.

Some of the early supporters of 247VC include well-known names like Sachin Tagra from JSW Ventures, Vivek Mathur, former partner at Elevation Capital, and Shailendra Majmundar, an expert in GenAI and machine learning at Johns Hopkins University.

It's worth noting that Sanghrajka and Randev left 100X.VC around November last year. Together, they bring over 50 years of experience in business operations, investing, and fundraising.

In their previous roles, they have backed startups such as Knight Fintech, abCoffee, EMO Energy, Zeron, Stupa Sports Analytics, Spare8, Vodex, 50Fin, Breathe ESG and others.

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