First Cheque, an early-stage venture capital, has raised Rs 38 crore or $4.75 million from global investors for its second fund. The closure of its Second fund takes the firm’s total AUM to Rs 90 crore.
The Bengaluru-based firm aims to invest in 50 startups in the next 18 months. It will focus on first-time founders and will invest $100K in each of its portfolio companies.
First Cheque works closely with over 50 Venture Partners (VPs) who help in curating a portfolio that is inclusive and diverse in nature. This list consists of founders, product managers, community managers, sector experts and growth managers.
The fund, which used to operate as an AngelList syndicate, has invested in over 100 startups in the past three years.
First Cheque’s portfolio ventures include Fashinza, Giva, Rocketlane, Fleetx, Wint Wealth, Plaza/Rigi, Global Fair, Drink Prime and Bellatrix Aerospace.