Veda VC, a venture capital company, successfully closed the first phase of its total fund of Rs 250 crore (about $30 million) at Rs 150 crore (roughly $18 million), with contributions from millionaire investors, business owners and operators, and family businesses.
Between $250K to $1.25 million will be invested by Veda VC in firms in the consumer-focused internet, software-as-a-service, financial services, and deeptech sectors. To date, it has supported organisations like Dukaan, Even Health, One Impression, Agnikul, Rigi, and GrowthSchool, as per reported by The Economic Times.
From 2020 to 2022, Veda ran as a syndicate fund, when it had made 33 investments. “As operators, we understand how tough the founders’ journey is and having seen the ups and downs of building and scaling up a startup, we decided to start Veda to enable seed stage founders with the knowledge and network to make better decisions,” Alagathi said.
“They (Rao and Alagathi) are super responsive whenever you need anything and when we had a do or die moment for our company, they really stepped up in a way that was 10x more than I could have expected,” Even Health CEO Mayank Banerjee said in a statement.
Alagathi manages Veda VC’s portfolio, investor relations, and overall operations while concentrating on investments in the fintech, health tech, and small- and medium-sized business SaaS sectors.
About Veda VC
Veda VC was founded by Avijeet Alagathi, Vasant Rao, Ashis Nayak, and Venus Dhuria in 2020 as a sector-neutral investment firm focusing on enterprise software as a service, the consumer internet, deep technology, and the creator economy. Veda VC prefers to concentrate on industries where they have already developed successful businesses, have a thorough grasp of the market, and can use the ecosystem to help our entrepreneurs flourish more quickly.