3one4 Capital raises Rs 1000 Cr for is third fund

Early-stage VC firm 3one4 capital has raised Rs 1000 crore for its third flagship fund from CDC Group, the Japan-India Fund-of-Funds, Nippon India Digital Innovation AIF (NIDIA) and South Korean video gaming giant KRAFTON. 

Prominent Indian endowments such as Catamaran, Premji Invest along with a few large domestic banks, manufacturing, insurance and financial services companies have also put their bets on the Bengaluru based firm.

The fund will be used to build a portfolio of 25-30 early-stage startups for each fund in sectors such as saas, enterprise automation, fintech, d2c, digital media and deep-tech startups.

Founded in 2016 by Pranav and Siddarth Pai, the VC firm has started raising its third flagship fund in 2020. It has raised 5 funds since its inception, including 3 flagship and 2 follow-on funds. Startups such as Licious, Loantap, Koo, Darwinbox and Open are few of its portfolio firms.