Java Capital, a seed stage focused SEBI-registered Alternate Investment Fund (AIF), has announced the launch of its first fund with a corpus of Rs 75 crore including a greenshoe option of Rs 25 crore. The fund has achieved its first close at Rs 30 crore and expects to complete a final close in the next six months.
Java Capital has already begun investing in early-stage firms (pre-seed to pre-series A) through the new fund. It plans to build a portfolio of 15 to 20 startups with an average first cheque size of Rs 2 crore.
The Fund will focus on different verticals across deep-tech, SaaS, enterprise tech, fintech, and climate sustainability. So far, Java has already invested in four companies from this fund.
Started in 2020 by Bhargavi V, Vinod Shankar, and Karteek Pulapaka, Java Capital partners with companies at an idea/prototype stage and actively works with them to achieve the product-market-fit stage.
To date, Java Capital has invested in 23 startups such as Agnikul, KukuFM, BharatX, Better Opinions, Yellow Metal, The Eplane Company, Kindlife, and Legistifyv among others.
In the past few weeks, several VCs have launched India-focused funds targeting startups across segments. The list includes Kae Capital, Transition VC, Indian Angel Network, Yatra Angel Network, Chiratae Ventures, and others.
In the past couple of months, around a dozen venture capital and debt firms have announced their new fund. The list features Chiratae Ventures, Fundamentum, Stride Ventures, Merak Ventures, Cactus Ventures, Elev8 Venture Partners, StartupXseed, Blacksoil, Kettleborough VC, Fireside, Avatar Ventures, Alteria Capital, and IAN.